TEHRAN, Iran, June 18. Iran is seeking to increase trade ties with Russia via free trade agreement with Eurasian Economic Union, said the head of Trade Promotion Organization Alireza Peymanpak, Trend reports citing IRNA.
"It is necessary to finalize the free trade agreement with the Eurasian Economic Union (EAEU) before the end of 2022," he said in a meeting on the sideline of the 25th St. Petersburg International Economic Forum.
Peymanpak pointed out that Iran and Russia should increase trade and it is necessary to implement the FTA with Eurasia.
The official suggested joint investment in renovation of transportation equipment to complete Rasht-Astara railway as one of the solutions to improve trade.
Iran and the EAEU 's preferential trade agreement is to expire in October and the two sides are negotiating to upgrade the preferential trade agreement to a free trade agreement by the end of 2022.