15 May 2025 EAEU & Iran: full-fledged free trade agreement entered into force On May 15, 2025, a full-fledged Free Trade Agreement between the Eurasian Economic Union and its Member States, on the one part, and the Islamic Republic of Iran, on the other part, entered into force. It will replace the interim agreement with restricted commodity coverage, which had been in effect since 2019, and will create unique conditions for manufacturers from EAEU countries to access the Iranian market. Hence, the average rate of import customs duty on goods supplied from the Union to Iran will decrease from 20% to 4.5%. "As part of implementing the full-fledged agreement, the parties have already started organizing the first meeting of the Joint Committee, scheduled for the second half of 2025, during which it is planned to discuss specific issues of further development of trade and economic cooperation between the Eurasian Economic Union and the Islamic Republic of Iran," mentioned Andrey Slepnev, Minister in charge of Trade of the Eurasian Economic Commission. The new agreement enshrines mutual obligations of the EAEU and Iran on preferential market access covering 90% of the entire commodity nomenclature. Compared to the interim agreement, the full-fledged agreement has a significantly improved regulatory part aimed at creating a barrier-free trade space between the parties. According to experts, its implementation will make it possible to multiply the trade turnover between the EAEU and Iran, which in the medium term may reach $12 billion.
15 May 2025 EEC develops interaction with Uzbekistan in food safety The headquarters of the Eurasian Economic Commission hosted a seminar with representatives of the Committee for Sanitary and Epidemiological Welfare and Public Health under the Ministry of Health of the Republic of Uzbekistan, organized by the EEC in accordance with the Memorandum of Cooperation with the Government of Uzbekistan and the relevant joint action plan for 2024-2026. Representatives of authorized authorities and a number of scientific organizations from the Eurasian Economic Union and Uzbekistan discussed ensuring the safety of food and other products in mutual trade. "Our meetings with colleagues from the Republic of Uzbekistan have become regular. They allow getting a lot of useful information and discussing specialized issues," highlighted Vladimir Sinkevich, Director of the EEC Department for Sanitary, Phytosanitary and Veterinary Measures. Saliya Karymbaeva, Deputy Director of the Department, informed the Uzbek counterparts about the approaches to updating sanitary, epidemiological and hygienic safety requirements for products in the EAEU. In turn, the Uzbek side made a presentation on reforming the food safety system in the Republic of Uzbekistan in accordance with the standards established by the Codex Alimentarius Commission. Communication at the seminar was another important step in the development of cooperation between the EEC, sanitary and epidemiological services of Uzbekistan and the Union countries on ensuring food safety, developing joint approaches to the supervision over the circulation of goods and fulfilling scientific potential in this area. "Joint research between Uzbekistan and the EAEU States will be aimed at implementing the principle that underlies the work of sanitary authorities of all countries — the priority of human life and health and the welfare of society as a whole," stressed Nurmat Atabekov, First Deputy Chairman of the Committee for Sanitary and Epidemiological Welfare and Public Health under the Ministry of Health of the Republic of Uzbekistan. The seminar resulted in noting the need to hold events of this format for the implementation of joint decisions within the EAEU, including with the participation of Observer States.
15 May 2025 Eldar Alisherov met with deputies of Kyrgyz Jogorku Kenesh Further development of economic cooperation of the Kyrgyz Republic with its partners in the Eurasian Economic Union was discussed at the meeting between Eldar Alisherov, Minister in charge of Integration and Macroeconomics of the Eurasian Economic Commission, and deputies of the Jogorku Kenesh of the Kyrgyz Republic. Emphasis was placed on the implementation of the Strategic Directions for Developing the Eurasian Economic Integration until 2025 and the Eurasian Economic Path Declaration on Further Development of Economic Processes within the Eurasian Economic Union until 2030 and for the Period until 2045. The meeting was also attended by Alexey Vedev, Director of the EEC Macroeconomic Policy Department, who noted that in 2024 Kyrgyzstan achieved a high economic growth rate of 9%, which is several times higher than the global average (3.2%). According to him, this is a consequence of the measures taken nationally and the quality of macroeconomic management, as well as improving the sustainability and balance of economic development. According to EEC estimates, economic growth was spurred by high investment activity and a decline in the shadow economy. Price stability was ensured: consumer price growth amounted to 6.3%, which is in line with the medium-term inflation target. The fiscal and debt sustainability improved: the budget was executed with a surplus, and the ratio of public debt to GDP decreased significantly. The measures taken allow maintaining positive macroeconomic dynamics, as is confirmed by the results of monitoring the social and economic development of Kyrgyzstan for the first quarter of 2025, conducted by the Commission.
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