Iran and the Eurasian Economic Union (EEU) signed a provisional pact today to create a free trade zone, chairman of the board of the Eurasian Economic Commission Tigran Sargsyan said, adding that a full-fledged agreement may be signed in three years.
The agreement was inked on the sidelines of an economic forum in the Kazakh capital city of Astana.
According to Sargsyan, after the agreement comes into effect, its signatories will be spared payment of customs duties.
"The current agreement includes an initial list of goods with lowered or cancelled customs fees upon its enforcement. The agreement covers half of mutual trade," TASS cited Sargsyan as saying.
