Iranian Knowledge-Based Firms Make Inroads into Eurasia Market

The Iranian Vice Presidency for Science and Technology says it has provided dozens of domestic knowledge-based companies with the opportunity to export their products to the Eurasian Economic Union (EAEU) market.

The Vice Presidency for Science and Technology launched a project earlier this year to assess the export capabilities of the local knowledge-based enterprises, boost their capabilities, and remove the obstacles to exports to the five member states of the Eurasian Economic Union.

After detecting more than 140 firms with the necessary abilities to have access to the lucrative Eurasian market, the vice presidency’s office selected 20 top companies and linked them with the trade dealer.

The results of trade interaction between the Iranian knowledge-based companies and the Eurasian market are going to be presented in an upcoming webinar.

The knowledge-based, innovative and technological companies can seize the opportunity to export their products and services to Russia, Belarus, Kyrgyzstan, Armenia and Kazakhstan under the EAEU trade regulations.

Preferential tariffs and a customs-free list of hundreds of items and services have turned the Eurasian market into an attractive option for the foreign companies.

In 2019, Iran joined the EAEU for a temporary 3-year period. Turkey and India are also vying for access to the Eurasian market.

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