EEU, India embark on free trade zone development

10:13, 19 June 2015

MOSCOW. KAZINFORM - The Eurasian Economic Union (EEU) and India has entered the practical phase on the signing of the free trade agreement. The Eurasian Economic Commission and the Ministry of Commerce and Industry of India signed a document to study the appropriateness of creating the zone at Saint Petersburg International Economic Forum on 18 June, BelTA learnt from the press service of the Eurasian Economic Commission.

According to Andrei Slepnev, Member of the Board (Minister) for Trade of the Eurasian Economic Commission, a research team will be gathered in July to conduct the work in a relatively short period of time.

"If the study is carried out as planned, next year we may expect the decision of the presidents on the start of the talks on the free trade agreement," Andrei Slepnev said. In his words, the team will analyze the trade and investment dynamics, areas of common interest in trade policies and integration agendas.

The work of similar groups is under way with Egypt and Israel. In May 2015 the EEU signed a free trade agreement with Vietnam, which is the first agreement on the facilitation of the trade regime since the union went operational on 1 January 2015, BelTA reports.

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