Belarus has taken a significant step in its trade relations by ratifying the Free Trade Agreement (FTA) between the Eurasian Economic Union (EAEU) and the Islamic Republic of Iran. The document has been published on the national legal Internet portal, sb.by.Belarus has taken a significant step in its trade relations by ratifying the Free Trade Agreement (FTA) between the Eurasian Economic Union (EAEU) and the Islamic Republic of Iran. The document has been published on the national legal Internet portal, sb.by. This agreement aims to create a comprehensive free trade area between EAEU members and Iran, fostering trade diversification and removing barriers to market access for various goods. By eliminating tariffs, the Iranian market becomes more accessible to Belarusian exporters, offering them competitive advantages. The potential benefits for Belarus are substantial, access to a vast market with a population of over 80 million and the opportunity to develop mutually beneficial technological cooperation. According to Viktor Pleskach, a member of the Standing Committee on Housing Policy, Trade and Construction of the House of Representatives, the FTA with Iran represents a crucial step in Belarus’s strategy of opening new markets in the East, Asia, and Africa. He emphasized the importance of collaborating with emerging markets like Iran, especially in light of the challenges faced in the West.
Belarus has ratified the Free Trade Agreement between the members of the Eurasian Economic Union (EAEU) on the one hand and the Islamic Republic of Iran on the other, publishing the document on the national legal Internet portal, sb.by reports
The aim of the agreement is to create a full free trade area between the EAEU members and Iran, to ensure the diversification of export supplies by removing tariff and non-tariff barriers to market access for a wide range of goods, and to improve the conditions for trade-economic liaisons. The opening of the Iranian market by zeroing duties will provide Belarusian exporters with more competitive conditions for the supply of goods.
“What does this bring to Belarus? The Iranian market with all its possibilities and with a population of more than 80 million people is opening up to us today. Tariff barriers are being lifted. Today we can trade openly with Iran, while having certain preferences. Today we can develop technologies on the basis of mutually beneficial cooperation. In fact, the Iranian market – together with the Chinese market – is a very big opportunity for us to promote our products: both mechanical engineering and food. The EAEU is a huge association, so we are looking for new markets. They are closing the gates to the West for us, but we are opening the gates to the East, Asia and Africa. Iran is one of the examples of how we can work today,” said Viktor Pleskach, a member of the Standing Committee on Housing Policy, Trade and Construction of the House of Representatives.
