Representatives of the Eurasian Economic Union (EAEU), a trade bloc with an integrated market of 180 million people, are participating in a conference in Iran’s port city of Anzali on the Caspian Sea to enhance regional convergence in economic and transit relations.

Iran’s exports to EAEU region have surged by 69.4% since a new trade deal was signed in October.

Iran and Kyrgyzstan say that trade ties could expand by nearly 10 times in the near future.

Iran’s business community wants a better position in trade activities with EAEU countries.

Armenian PM invited Iran’s Rouhani for a high-profile summit of EAEU leaders in early October.

The draft agreement is intended for a period of four years, under which “the EAEU will grant Iran tariff concessions on 502 harmonized commodity codes".

A top Russian official says Moscow is in talks with Seoul over the establishment of a free trade zone between the Eurasian Economic Union (EAEU) and South Korea.