Title : Israel and Iran both set to join Russia-led free trade zone
link : Israel and Iran both set to join Russia-led free trade zone
Israel and Iran both set to join Russia-led free trade zone
Israel is set to sign a free-trade agreement with the Russia-led Eurasian Economic Union in the near future, according to officials in Moscow and Jerusalem.Incidentally, Iran is also in advanced talks about creating a free trade zone with the union, known as EAEU. However, each country would sign its own free-trade agreement (FTA) with the union, which would mean that Jerusalem would not be able to trade freely with Tehran, or other states signing similar agreements.
“The negotiations with the EAEU were launched in Moscow in April 2018, following positive results of a comprehensive Joint Feasibility Study conducted by the parties,” a spokesperson for the Economy Ministry told The Times of Israel on Monday.
“The agreement will cover various aspects of trade in goods, such as rules of origin, customs cooperation, technical barriers to trade, sanitary and phytosanitary measures, e-commerce, dispute settlement, and others.”
Tehran’s ambassador to Moscow Mehdi Sanaei said Friday that he expects the Iranian parliament to ratify the free-trade agreement with the EAEU “in the near future,” according to Iran’s Mehr news agency.
“The agreement is very important for Iran… because it opens the gates to a big market for our country, and also opens the Iranian market to Russia and northern countries,” he said.
Asked what significance, if any, Iran’s joining the EAEU free trade zone would have for Israel, the ministry spokesperson referred this reporter to the Prime Minister’s Office. The PMO did not respond to a query by the time of publication.
“The State of Israel supports increasing the economic pressure on Iran so that it will change its behavior,” a senior Israeli official told The Times of Israel, speaking on condition of anonymity and declining to elaborate. READ MORE
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