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Iran: Free trade deal likely with Eurasian bloc

The Eurasian Economic Union (EEU), a customs union of five countries set up in 2015 that has been heavily promoted by Russia as a counterweight to the European Union is moving towards a free trade deal with Iran. In March, the prime ministers of the five member countries – Russia, Kazakhstan, Belarus, Kyrgyzstan and Armenia – signed a directive to prepare for a free trade deal with Tehran. The process now appears to be gathering momentum. Kazakhstan economy minister Timur Suleimenov told London daily The Financial Times: “We believe we can come up with something substantial by the end of the year”.

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