Tehran: Iran's economy minister holds talks with senior officials of the Eurasian Economic Union (EAEU) in Moscow on accelerating trade transactions between the two sides and strengthening Iran's presence in the bloc's market of more than 180 million people. Seyed Ali Madanizadeh, Iran's minister of economic affairs and finance, met with Bagit Jan Sagintayev, chairman of the executive board of the Eurasian Economic Commission, the EAEU's highest-ranking official on Monday. During the meeting, the two sides emphasized their joint determination to develop cooperation.

According to Islamic Republic News Agency, before the meeting, Madanizadeh held separate talks with Andrey Slepnev, the EAEU's minister for trade, and a number of officials from the bloc. The meeting focused on the course of cooperation between Iran and the EAEU following the implementation of their free trade agreement. Slepnev referred to the planned second meeting of the Iran-EAEU working group, which is scheduled to be held in Tehran in the coming months, and expressed hope that the upward trend in trade between the sides would continue.

Iran's ambassador to Russia Kazem Jalali and Mehdi Heidari, deputy economy minister and head of the Organization for Investment and Economic and Technical Assistance of Iran, accompanied Madanizadeh during the meetings. The free trade agreement between Iran and the EAEU came into effect in May 2025 after completing the legal procedures in the signatory countries. Under the agreement, customs duties on 87% of goods traded between the sides were eliminated. The agreement has opened the way for Iranian goods to enter the markets of the EAEU's more than 180 million people, while businesses from the bloc's five member states have gained the same opportunity to trade with Iran.

Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia are members of the EAEU, while Iran is an observer member of the bloc. Madanizadeh arrived in Moscow on Sunday for bilateral and multilateral talks. On Monday evening, Madanizadeh attended a meeting with Iranian traders and economic activists living in Russia, where he listened to their concerns and discussed their business activities. On Tuesday, he met with his Russian counterpart to discuss the expansion of economic relations, a meeting he said had been accompanied by 'good openings' in trade and economic relations.