AlwaysFree: Russia, Iran Agree To Sign FTA Agreement With EAEU Soon — Official

• Earlier, Alexander Novak said that Russia and Iran confirmed their intention to cooperate to create the necessary logistics infrastructure

According to TASS, Russia's state-owned news agency article published on November 1, 2022, Russia and Iran have agreed to sign an agreement on a free trade area (FTA) with the EAEU in the near future, Russian Deputy Prime Minister Alexander Novak said at a press conference following a meeting of the Russian-Iranian intergovernmental commission.

"conclude an agreement on a free trade area between Iran and the Eurasian Economic Union soon," he said.

Companies from Russia and Iran already have agreements on joint projects in mechanical engineering, automobile and aircraft manufacturing. "There are already joint projects, agreements between Russian and Iranian companies on setting up joint ventures and supplying relevant components," Novak said.

Earlier, Novak said that Russia and Iran confirmed their intention to cooperate to create the necessary logistics infrastructure, in particular, the North-South transport corridor and port infrastructure of the Caspian and Mediterranean seas.

In early October, it was reported that work on the regulatory part of a full-scale agreement on a free trade area between the Eurasian Economic Union (EAEU) and Iran was almost completed.

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