The EAEU Free Trade Bloc includes Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia and fills the economic space between Eastern Europe and Western China. With Free Trade Agreements now in place with China, Indonesia, Iran, Mongolia, Serbia, Singapore, the UAE and Vietnam, and negotiations well underway with India and Egypt, the EAEU is developing as a vast Eurasian trade space. Leverage the EAEU single market as we discuss business regulations, customs procedures, and trade advantages for companies operating within or trading with the Eurasian Economic Union.
The Russian and Indonesian Presidents and their respective economic development teams have met in Moscow. We deep dive the meetings that were held, with an onus on energy, bilateral trade growth and mutual investments. Indonesia has a population double that of Russia and an economy growing five times faster.
The Russian and Indonesian Presidents are meeting in Moscow to discuss trade development, along with their respective economic and trade teams. Indonesia is a full member of BRICS, and has a Free Trade Agreement with the Eurasian Economic Union that entered into force last year. Bilateral trade is currently worth about US$4.7 billion.
The Russian State Duma has approved two bills relating to the UAE-Eurasian Economic Union Free Trade Agreement, which will reduce or eliminate duties on about 85% of the product range of mutual trade between the EAEU and the UAE, and setting the stage for its entering into force later this year.
Russia and Pakistan have commenced discussions concerning a Pakistan-Eurasian Economic Union Free Trade Agreement. Pakistan has an economy worth over US$2 trillion and a consumer market of over 250 million people. Moscow see Pakistan as a promising partner in the region with significant potential for growth.
Armenia is negotiating with Russia over the construction of a second Nuclear Power Plant. Armenia’s existing NPP dates back to the Soviet era, while Armenia looks to secure future energy supplies. Yerevan however appears intent on driving a hard bargain.
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Russia’s Transmashholdings, the countries largest manufacturer of railway locomotives and carriages, is eying the Vietnamese market as several Vietnamese city projects are being put into practice including new underground Metro and regular overland rail services.
Kazakhstan and Russia are making significant efforts to boost Eurasian continental rail connectivity with China, in moves that will further secure supply chains in the wake of current maritime shipping problems. We examine the trends and the longer term impacts.
Russia’s Wildberries & Russ has established a WB Taxi pilot taxi hailing service in Kyrgyzstan as the company both enters the domestic market and tests for a later launch in Russia. WB Taxi users have access to the Standard, Comfort, and Multi fares, 24/7 voice support, and chat functionality. There is also a loyalty programme.
The Russian Prime Minister Mikhail Mishustin has met with Kazakh President Kassym-Jomart Tokayev in Shymkent to attend a Eurasian Economic Union Intergovernmental Commission. Russia-Kazakh bilateral trade has reached nearly US$30 billion, ahead of schedule, while Russian investment in Kazakhstan has reached US$50 billion. The two countries collaborate in energy, agricultural and numerous engineering sectors.
The Russian Foreign Minister Sergey Lavrov has met with the Ambassadors of all of the ASEAN countries – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam, in Moscow. They discussed improving Russia’s multilateral trade with the bloc as well as developing relations between ASEAN and BRICS, the Eurasian Economic Union and Shanghai Cooperation Organisation.
The Iran war is impacting supply chains throughout Central Asia including the Eurasian Economic Union and Commonwealth of Independent States, creating new logistics corridors as well as problems. We examine the geostrategic implications as the Western hemisphere becomes increasingly isolated from the East.
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