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Iran, Russia underline cooperation in Eurasian Economic Union

Moscow Iran's Ambassador to Russia Kazem Jalali and Russian deputy foreign minister Alexander Pankin in a meeting late discussed cooperation within the frameworks of Eurasian Economic Union and mutual collaboration.

According to Russian Foreign Ministry's website, the officials their meeting late on Monday also reviewed convergence processes within the framework of the Eurasian Economic Union, as well as some international economic issues.

Jalali hailed the two countries' cooperation in various fields, stressing the need to strengthen economic collaboration, especially in the international financial institutes.

Pankin, for his part, hoped that with the control of the coronavirus spread, economic cooperation between Iran and Russia, especially in the field of tourism, would be expanded.

He also described the use of national currencies between the two countries, as well as between members of the Eurasian Economic Union, as an inevitable way to end the dollar's dominance in foreign trade.

The Eurasian Economic Union (EAEU) is an economic union of states located in Eastern Europe, Central Asia and Western Asia. The Treaty on the Eurasian Economic Union was signed on 29 May 2014 by the leaders of Belarus, Kazakhstan and Russia, and came into force on 1 January 2015.

In May 2018, after two years of negotiations, Iran and the Eurasian Economic Union signed an interim agreement to establish a free trade zone, which was implemented on October 27, 2019. The agreement is set to become a free trade agreement after three years and negotiations between the two sides.

Source: Islamic Republic News Agency - IRNA


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