The planned signing of a free trade agreement between the Eurasian Economic Union (EAEU) and Iran was reported to take place by the end of 2023, according to the press service of the Belarusian government, BelTA, and later echoed by official Belarusian statements. This update positioned the agreement as a key milestone in regional economic integration, signaling formal steps toward reducing trade barriers and expanding regulatory cooperation between the EAEU member states and Iran.
Following discussions at an EAEU Council session, Belarusian officials announced that the draft free trade agreement with Iran had reached completion. The session highlighted a diverse agenda of 33 items, spanning technical and customs tariff regulations, as well as the broader field of international cooperation. The emphasis on tariff issues indicates a concrete framework for how goods will move across borders, while the focus on technical regulations points to the alignment of standards to facilitate smoother trade flows among the involved economies.
In August, Russian Prime Minister Mikhail Mishustin underscored at the Eurasian Intergovernmental Council meeting the goal of advancing the common payments area of the EAEU. He suggested that this development should proceed on the basis of national currencies to enhance payment security and economic stability across the union’s member states. The statement reflects a broader strategy aimed at strengthening monetary resilience and reducing exposure to exchange rate fluctuations within the EAEU network.
The EAEU itself comprises Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia, forming a regional bloc that seeks to deepen economic ties and harmonize policy across diverse economies with shared interests in trade facilitation, infrastructure development, and regulatory alignment. The discourse around Iran complements ongoing efforts to diversify trade partners and create more predictable commercial environments for regional producers and exporters.
Previously, Kazakhstan had referred to a principle of trade with Russia that stressed orderly, mutually beneficial exchanges. This sentiment echoes a broader regional preference for stable, rules-based trade relationships that can support industrial growth, supply chain resilience, and shared economic prosperity across Eurasia. As discussions progress, stakeholders throughout the EAEU and partner economies are watching how the potential Iran agreement might influence tariff structures, non-tariff barriers, and cooperative standards that can accelerate cross-border commerce within the region.