Tel :
Tel :
Recently, the Eurasian AB/A32 steel Economic Union (EAEU) and Iran officially signed a free trade agreement, marking a new stage of economic and trade cooperation between the two sides. According to the agreement, both parties will cancel tariffs on a large number of goods, including metallurgical products and electromechanical equipment, which will bring significant benefits to export enterprises from Russia and other EAEU member states.
Russian Deputy Prime Minister Alexei Overchuk AB/A32 steel pointed out that the agreement will enable Russian exporters to save up to $300 million in tariff costs annually, significantly enhancing their export competitiveness to the Iranian market. Iran has a population of nearly 90 million and is an important consumer market in the Middle East. This move undoubtedly opens the door for Russian companies to enter the Iranian market, while also expanding the variety and circulation scale of goods in the EAEU internal market.
Ovechuk emphasized that this agreement is an important achievement in the process of Eurasian economic integration, and its comprehensiveness is particularly prominent. For a long time, Iran has focused on protecting its own industries and implementing high import barriers. This opening of the market, for the first time, provides large-scale tariff preferences for goods from other countries, which not only reflects the mutual trust between Iran and the EAEU, but also marks the formation of an emerging "Pan Eurasian Economic Area" and the acceleration of the construction of a free flow commodity network.
According to the agreement, over 93% of Russian export goods will enjoy tariff preferences, and Iran's average import tax rate for Russian goods will be reduced from 16.7% to 5.2%. The key industries that will benefit from the first batch include:
Metallurgical industry: Hot rolled AB/A32 steel products, steel structures, iron ore, steel pipes, non-ferrous metals and other products will significantly reduce costs and increase export potential;
After the cancellation of tariffs on products such as electrical equipment and radar devices, the market share of electromechanical equipment in the Iranian market will be enhanced;
Paper products: related processed products will also expand export space due to reduced tax burden;
In the agricultural sector, exports of grains, sunflower seeds, soybeans, rapeseed oil, and related agricultural products will grow synchronously to meet the diversified needs of the Iranian market.
Industry insiders analyze that the agreement is expected to reshape Russia's export structure to Iran, reduce the dependence of traditional categories on price competition, and promote more value-added products to enter the Iranian market. At the same time, the agreement also provides new export channels and cooperation possibilities for enterprises from other EAEU member states, which is an important step in deepening regional economic cooperation and hedging geopolitical risks.
