Eurasia Exhibition

The Eurasian Economic Union (a combination of the names Europe and Asia) is an international legal entity consisting of several countries in Eastern Europe and Central Asia. This organization officially began its activities in January 2015 with the primary objectives of advancing the economies of its member countries, achieving economic stability, and ultimately enhancing their competitiveness in the global economy.

In the following article, we delve into the history and goals of the formation of the Eurasian Union, discuss the exhibitions held, and explore the development of Iran’s relations with this union. Additionally, we will provide useful information about the second Eurasia Exhibition scheduled to take place in the current year’s Azar month.

A Brief History of the Eurasian Union

The collapse of the Soviet Union in the 1990s led to the independence of new countries, such as Russia and some Central Asian countries. In the aftermath of these events and the economic and political crises that ensued, the need for economic cooperation in these regions was felt more than ever before.

The agreement to establish the Eurasian Union was signed during this period by countries such as Kazakhstan, Kyrgyzstan, and Uzbekistan. In the following years, countries like Russia, Belarus, and Armenia also joined this union. The Eurasian Union officially commenced its full-fledged activities in 2015.

Currently, with a population of 183 million people in an area of 20 million square kilometers, this union represents approximately 2.6% of the world’s population. Additionally, with a gross domestic product (GDP) of around $1.9 trillion, it has achieved significant global rankings and is considered one of the most vibrant investment markets:

1. First in oil extraction
2. Fourth in energy production
3. Third in railway length
4. Fourth in iron production
5. Fifth in steel production

What Goals Does the Eurasian Union Pursue in Its Activities?

The Eurasian Union has outlined its goals and activities through specific laws, protocols, and agreements. These objectives can be broadly categorized as follows:

1. Promotion of Economic Interactions: The union strives to create an upward trend in the economic interactions among its member countries by eliminating trade barriers and facilitating the exchange of goods and services.
2. Development of Industrial Infrastructure: The union aims to strengthen the economic foundations of its member countries through various projects, creating an ideal environment for upward economic growth along with the generation of suitable employment opportunities.
3. Technology and Innovation: One of the goals of the Eurasian Union is the advancement and growth in scientific and technological fields through the exchange of experiences.
4. Cultural Promotion and Education: Eurasian Union activities contribute to the creation of a conducive environment for increasing understanding among different cultures and enhancing cultural exchanges in the fields of education and research.
5. Political Engagement and Security Enhancement: Facilitating cooperation and interactions in economic, commercial, and social aspects among member countries, resolving international disputes, and strengthening regional security are among the additional goals of this union.

Benefits and Drawbacks of Iran’s Agreement with the Eurasian Union

On October 27, 2019, Iran signed an agreement titled “Iran-Eurasian Economic Union Free Trade Agreement” with the Eurasian Economic Union. The overall objective of this agreement is to create favorable conditions for participation and interaction in the economic and social spheres between Iran and the member countries of the Eurasian Union.

The Significance of Iran’s Agreement with the Eurasian Union

Quoting the head of the Organization for Development and Trade: “By entering into a preferential trade agreement with the Eurasian Economic Union in the initial phase, and converting this agreement into free trade in the near future, the volume of trade with these countries will increase.”

The agreement between Iran and the Eurasian Economic Union will lead to damage in the industry, oil, and non-oil exports, and also result in the rise of currency prices in Iran. Therefore, creating the opportunity for trade with other countries will provide new avenues for improving economic conditions in Iran.

Signing the agreement between Iran and the Eurasian Union has created the opportunity and favorable conditions for Iran’s economy to enter the international stage and join free trade. Some benefits of this agreement are outlined as follows:

1. Expansion of Free Trade: The agreement promotes free trade between Iran and the member countries of the union by removing obstacles and reducing restrictions, facilitating regional economic exchanges and creating new markets, thereby easing export and import processes.
2. Facilitation of Transit: The agreement streamlines the entry and exit of goods between the two regions, increases transportation and trade, and, in general, reduces transit challenges.
3. Expansion of Financial Cooperation: The agreement fosters an environment conducive to mutual investments between regional companies and facilitates financial transactions, contributing to overall economic development.
4. Increased Cultural and Educational Collaboration: The agreement enhances collaboration and cultural and educational exchanges between Iran and the member countries, fostering a deeper understanding and cooperation.
5. Development in Scientific and Technological Fields: The agreement supports advancements in scientific and technological fields through the exchange of knowledge and experiences.

In conclusion, the signing of this agreement creates a favorable environment for mutual investments between regional companies, facilitates financial transactions, and contributes to economic development by easing trade barriers and promoting regional cooperation.

What You Need to Know About the Eurasia Specialized Exhibition

The Eurasia Specialized Exhibition is a type of commercial event that serves as a bridge between Eastern and Western markets. This exhibition is held annually in the member countries of the Eurasian Union and covers various sectors such as technology, industry, agriculture, healthcare, oil and gas, food, petrochemicals, technology, transportation, and more.

The first Eurasia Specialized Exhibition took place in 2017 in Istanbul, Turkey, following the official commencement of the union’s activities.

The Eurasia Specialized Exhibition provides a suitable platform for showcasing capabilities in trade and industry, as well as evaluating the value of products produced, along with branding within Iran, for industrial traders who are members of Eurasia.

In this specialized exhibition, Russian companies, particularly those in the automotive, shipbuilding, and machinery industries, participate, possessing special credibility and seeking progress and expansion for the production and introduction of their industrial products. Clearly, this is considered a highly positive opportunity for Iranian importers.

Some of the objectives of the Eurasia Specialized Exhibition include:

1. Creating advertising opportunities and showcasing products and technologies at the local and international market levels.
2. Increasing collaboration in economic and trade sectors.
3. Promoting and exchanging cultures among different countries.

First Eurasia Exhibition in Iran

On July 11, 2021, the Eurasia Exhibition took place at the Tehran International Exhibition with the participation of manufacturers, traders, managers, and entrepreneurs from major member countries of the union (Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan). In addition to these countries, numerous reputable companies from neighboring countries of Iran, such as Qatar, Oman, Turkey, India, Iraq, Lebanon, Syria, and Afghanistan, also participated in the exhibition.

“Hermes Trading Development ,” with ownership by two reputable commercial/trading companies in Kyrgyzstan and the capital of Russia, is honored to actively participate in this international gathering to pursue the path of advancement in the trade industry and establish broad commercial collaborations. One of the objectives of Hermes Company in participating in the Eurasia Exhibition is to increase its revenue to approximately five million dollars by the year 2022.

Among the advantages of holding this exhibition in Iran, permanent membership of Iran in the Eurasian Union and the increase in the stability and strength of Iran’s economic foundations in interacting with the member countries of this union can be highlighted.

In summary, the second Eurasia Exhibition in Iran is scheduled to be held from December 4th to 7th, 2023, at the Tehran International Exhibition. In this exhibition, prominent figures such as the honorable First Vice President, the heads of the Joint Iran-Russia Commission, the Ministry of Foreign Affairs, representatives of the Islamic Consultative Assembly, as well as trade managers from member countries of the union, will be in attendance.

Moreover, a group of 50 translators proficient in languages such as Russian, English, Armenian, Arabic, Chinese, and Turkish-Istanbuli will contribute to effective communication between different countries and facilitate the negotiation process at the Eurasia Exhibition.

It is anticipated that in this gathering, manufacturers and sellers, through fundamental actions in advertising, selling, after-sales services for their products, and presenting comprehensive information about their companies in their booths, will bring about a significant transformation in the country’s economy through increasing purchase statistics and income.

For complete information on the organization of the second Eurasia Exhibition in Iran, you can follow the details in the table below.