Eurasian Economic Union Free Trade Agreements With Egypt, Indonesia and UAE Nearly Completed

Free Trade Agreements between the Eurasian Economic Union (EAEU) and Egypt, Indonesia and the United Arab Emirates (UAE), are almost finished, according to Anton Alikhanov, Russia’s Trade & Industry Minister said at a meeting of BRICS industry ministers.

“Free trade agreements are a major and efficient mechanism of developing the EAEU’s relations with foreign partners. They allowed seriously increasing trade turnover with Vietnam, Serbia and Iran. Agreements with the United Arab Emirates, Indonesia and Egypt are at advanced stages,” he said.

Alikhanov also suggested that the possibility of cooperation between BRICS and EAEU be considered. “Today the EAEU is a deeply integrated regional economic integration between five countries: Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan. On the EAEU space the freedom of movement of goods, services, capital, workforce is ensured. A common regulatory policy is pursued in key sectors of the economy. Due to this, the EAEU is actively developing, with mutual trade and industrial cooperation growing,” he stressed.