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EEU accelerates negotiations for free trade zone

Sochi, Russia, Jun 9 (Prensa Latina) The Eurasian Economic Union (EEU) is intensifying negotiations to establish a free trade zone with Egypt, Indonesia and the United Arab Emirates (UAE), Russia’s Prime Minister Mikhail Mishustin on Friday stated.

Russian head of Government referred at a meeting between the prime ministers of the EEU member countries and Russia’s President Vladimir Putin on Friday in Sochi that negotiations between the union and those countries is progressing at a good pace.

Regarding the draft free trade agreement with Iran, Putin highlighted serious work done by the EEU to prepare it and expressed hope that the document will be signed earlier than the end of 2023.

January last, the EEU and Iran signed a memorandum of free trade in Tehran.

The EEU is formed by Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia, while Cuba, Moldova and Uzbekistan participate as observer countries.

The group aims to establish a common market and coordinate the economic actions of its members.


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