Financial Tribune

In a November 15 open session, a majority of State Duma members approved the agreement for the establishment of a free trade zone, which was signed in Kazakhstan's capital city of Astana on May 17.

The deal is expected to substantially increase trade between Iran and EEU.

Iran’s non-oil commercial exchanges with the five member states of EEU totaled 1.94 million tons worth $1.13 billion during the first seven months of the current Iranian year (March 21-Oct. 22) to register a 36.98% and 52.05% growth in tonnage and value respectively compared with last year’s corresponding period.