Kazakhstan ratifies free trade agreement between EAEU and Iran

ASTANA. Dec 28 (Interfax) - Kazakh President Kassym-Jomart Tokayev has signed the law "On ratifying the free trade agreement between the Eurasian Economic Union and its member states, on the one part, and the Islamic Republic of Iran, on the other part," the official department of the Kazakhstanskaya Pravda publication reported on Saturday.

The respective parties signed the agreement on December 25, 2023, in St. Petersburg. The agreement is intended to expand trade and economic cooperation between the parties.

Kazakh Deputy Trade and Integration Minister Kairat Torebayev previously said that the agreement should create favorable conditions to promote goods to the partner market and attract investment in the EAEU member countries. Iran undertakes to apply zero duties on most goods and not apply trade restrictions within the agreement.