The EAEU will expand free trade zones with a number of countries – Russia today Publication in CHAT: Russia The Eurasian Economic Union plans to expand the network of free trade zones, intending to conclude agreements with a number of countries, including Egypt, the United Arab Emirates, India and Indonesia. This was announced by Deputy Foreign Minister of the Russian Federation Alexander Pankin. According to him, partnership agreements with Indonesia could be formalized by the end of 2024. “There are reasonable expectations. Some guidelines for the implementation of this process already exist, but this work requires a thorough approach,” the deputy minister also emphasized. He pointed out that the conclusion of agreements is on schedule, and artificially accelerating the process is not a priority. “We do not see any additional difficulties or obstacles from our partners,” Pankin added, noting that Russia, as a member of the EAEU, does not have the authority to conclude bilateral agreements on free trade zones, so all negotiations are conducted on behalf of the union. In addition to the aforementioned countries, the EAEU is considering the possibility of creating a free trade zone with other states. “indicates the broad geography of the organization’s interests, is a universal solution to all problems, but they are an effective tool that promotes the development of mutual relations,” Pankin noted. The diplomat explained that the main factor in creating such zones is their economic feasibility, not political motives. The EAEU is almost completely self-sufficient in food and expects that the development of a network of free trade zones will lead to a significant increase in trade flows and strengthening of economic interaction between member countries. Source link Source link
