Iran said on Friday that it has started to look into the possibility of launching free trade with Eurasia Economic Union (EEU).�

The issue has been reportedly discussed in a meeting between Mojtaba Khosrow-Taj and EEU Trade Minister Veronica Nikishina in Moscow.

Iran�s local media have reported that the two have discussed the formation of a working group to study Iran-EEU free trade.

The working group will also prepare a free trade agreement that will be put before Iran and the EEU to be signed in June.

Khosrow-Taj, who is in Moscow for a major exhibition on Iran�s trade potentials, has further discussed facilitating customs regulations with EEU member states in his meeting with Nikishina.

He has also called on the Union to use Iran�s trade capabilities in different areas.

The EEU in May 2015 gave the initial go-ahead to signing a free trade agreement with Iran.� Accordingly, a proposal to the same effect was approved by all members of Union in a meeting in the Armenian capital, Yerevan.

The EEU - an economic union of former Soviet states led by Russia to guarantee free transit of goods, services, capital and workers among members � has already said it is conducting similar discussions with several other countries including Egypt and Vietnam.

China and India have also already indicated their interest in joining a free trade zone with the Eurasian Economic Union.

The EEU at its current capacity has a combined population of 170 million people and a gross domestic product of $2.7 trillion.

It unites Russia, Belarus, Kazakhstan and Armenia, with Kyrgyzstan becoming the latest�member.

The bloc which began functioning on 1 January 2015 is being considered as a major economic force to challenge the might of the European Union and the US.

By Press TV