The Russian government said on Saturday that it had approved a draft law for ratification of the provisional free trade deal between the Eurasian Economic Union (EAEU) and Iran, which is now the subject to parliamentary approval.
MOSCOW (Pakistan Point News / Sputnik - 15th September, 2018) The Russian government said on Saturday that it had approved a draft law for ratification of the provisional free trade deal between the Eurasian Economic Union (EAEU) and Iran, which is now the subject to parliamentary approval.
The five-nation economic bloc of Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia struck the provisional free trade deal with Iran on the sidelines of the Astana Economic Forum on May 17. The provisional agreement is expected to last for three years, with the signatories committing themselves to enter into talks on a full-fledged free trade deal within a year since the accord's entry into force.
"Approve the draft Federal law ... and table it in the State Duma in accordance with the established procedure," the government said in a statement, posted on its official website.
The provisional agreement will cover a limited set of goods to ensure swift adaptation of exporters to a new level of relations. The agreement is aimed at reducing tariffs and also removing non-tariff barriers to increase predictability and boost mutual trade.
