A senior official said here late Monday that formation of Iran-Russia-India customs union would pave the way for presence of the Islamic Republic in Eurasian Economic Union.
Talking to IRNA, Governor of Iran Customs Administration (ICA) Masoud Karbasian made the remarks after an MoU was inked between Iran and Russia late Monday, adding that an agreement between Iran, Russia, and India will be a big step towards formation of a union of the customs of the three countries.
Karbasian further noted that the Iranian, Russian and India merchants would also benefit from the privileges of the customs union.
As per the Iran-Russia customs agreement, the two sides are obliged to introduce the entrepreneurs in the two countries that are trusted by the customs on both sides in small-scale.
Touching upon the custom agreement to be inked between Iran, Russia and India in near future, he underscored that the accord would be considered as a pivotal step for formation of the union.
The Eurasian Economic Union (EEU) is an economic union of states located primarily in northern Eurasia.
The Eurasian Economic Union has an integrated single market of 183 million people and a gross domestic product of over $4 trillion.
The EEU introduces the free movement of goods, capital, services and people and provides for common transport, agriculture and energy policies, with provisions for a single currency and greater integration in the future.
Source: IRNA - Date: (17 May 2016)