The International Trade Council (ITC) notes with interest the upcoming implementation of the free trade agreement between Iran and the Eurasian Economic Union (EEU). This agreement is anticipated to bring significant privileges to Armenia for various products, particularly food commodities, as mentioned by Armenia's Minister of Economy, Vahan Kerobyan.
While challenges persist in exporting goods to Iran, this deal offers a fresh approach to economic cooperation through joint production initiatives aimed at the global market, according to Minister Kerobyan. The ITC acknowledges Armenia's unique position in this context as a member of the EEU.
Armenian Prime Minister Nikol Pashinyan has emphasized the importance of this free trade agreement's implementation for Armenia, considering its strategic value for expanding trade cooperation with third countries.
This agreement, coupled with ongoing negotiations with India and Egypt, as well as proposed dialogues on economic affairs and deepening trade cooperation with the United Arab Emirates and Indonesia, suggest exciting prospects for integration of the union into the global economy.
The ITC continues to monitor the evolving global trade landscape and supports endeavors to enhance mutual trade benefits among nations. We look forward to seeing the positive impacts of these initiatives on the participating countries and the global trade community at large.