An agreement has been reached at the AEF 2018 Global Challenges Summit following the completion of negotiations that have been running since 2016.

This agreement outlines the reduction of import duties and will be signed for three years between Eurasian member states and Iran and will concern certain goods.
Iran is an incredibly promising market for the ramp up of Kazakh goods. Positive dynamics with Iran has been noted, the turnover of commodities in 2018 grew by 70% compared to like-for-like period in 2017 and comprised over 170 million US dollars.

The agreement is going to improve the conditions of access to the Iranian market. It will be possible to to supply such goods as: beef, nut, barley lentils, corn, vegetable oils, bakery, rolled iron, pipes, metals, and so on at reduced rates that Iran is currently supplying for other countries.

Apart from this, the Agreement is going to create stable conditions for the trade with Iran. The stipulations in the agreement are going to regulate sanitary measures, technical trade barriers, customs procedures, and the rules that regulates goods management practices, based on the international law and the world trade organisation.

Later on the parties will consider the practicability of the full scale free trading zone in accordance with the WTO rules.

A Mamin, First Deputy Prime Minister was the undersigned from the Kazakhstan side.

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