NUR-SULTAN. KAZINFORM Deputies of the Kazakh Majilis ratified the protocol to the temporary agreement resulting in the foundation of a free trade zone between the Eurasian Economic Union and Iran, Kazinform reports.
1st Vice Minister of Trade and Integration of Kazakhstan Yerlan Battakov said the temporary agreement was signed in 2018 and came into effect on October 27, 2019, expiring thus on October 27 this year.
As stated there, Iran is a promising market with a population of more than 80 mln. The sales between Kazakhstan and Iran grew from USD 377.4 mln to 440 mln from the date of commencement of the temporary agreement. The temporary agreement is a free trade agreement with restricted product coverage.