Iran will be ready to sign an agreement on the creation of a free trade zone with the Eurasian Economic Union (EEU) in 2017, Russian Federation Council speaker Valentina Matviyenko said in a statement, according to Mehr News Agency.

"Iran is ready to finish by the end of the year the first stage of preparation of documents necessary for joining the free trade zone, so that the country is ready to sign the agreement next year," Matviyenko told reporters following a meeting with President of the Islamic Republic Hassan Rouhani.

The agreement stipulates the creation of a free trade zone between Iran and the EEU in order to boost turnover and stimulate mutual trade.

Matviyenko noted that the Iranian President also called for strengthening efforts on including Iran in the Shanghai Cooperation Organization (SCO).

As reported in late December, Iran and the EEU, comprising Armenia, Russia, Belarus, Kazakhstan and Kyrgyzstan, were working on a free trade zone agreement.