Iran to sign preferential trade agreement with EEU
The agreement was initialized two years ago and the parties agreed upon the terms regarding the trade of mineral and industrial goods as well as agricultural products this year.
Accordingly, around 250 categories of products will reportedly be included in the agreement. The agreement is expected to be in effect for three years.
Iran exported nearly $500 million worth of goods to the EEU member states, which includes Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan during the first seven months. The country imported around $800 million from the EEU states in exchange.
Iran will be subject to 80% customs duty exemption on the export of various categories of goods. The country’s downstream petrochemical products will also be exempt from customs duty or enjoy a range of duty reductions, the media reported.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- What propels PE prices higher in China?
- Vietnam PP, PE markets keep rising but some cautiousness remains
- Malaysia PP exports almost triple in February
- Spot ethylene markets rally on diminishing supply in Asia, Europe
- Will European PP markets change direction after 3 months?
- Turkish PP, PE players leaving market for holiday with firm post-Eid expectations
- June PVC hikes exceed expectations in Asia, sustainability under discussion
- Import PS, ABS markets recover amid upstream gains in Egypt
- PP, PE markets on a slight uptrend in Indonesia despite Ramadan lull
- European PE hovers around 11-year low, is reversal near?