Russia and the United Arab Emirates (UAE) are in the final stages of preparing a Free Trade Agreement (FTA), Russian Deputy Minister of Economic Development Vladimir Ilyichev announced at the RBC Foreign Trade Forum.
“With Indonesia, we’ve completed about 80% of the process. We still need to resolve a few tariff-related issues, but there’s a good chance we’ll finalize the agreement by the end of the year,” said Ilyichev. “As for the UAE, we are also close to the finish line, although discussions are ongoing with colleagues from the Finance Ministry regarding potential risks to our domestic jewelry industry. We’re looking to incorporate more robust safeguards directly into the agreement.”
Speaking on other countries, Ilyichev noted that negotiations with Mongolia are progressing well. “We expect to wrap things up by year-end — just one or two steps remain. These talks are never easy; they always involve balancing mutual interests across specific sectors.”
However, discussions with India and Egypt remain more complex. “With India, for example, the process is hindered by a significant trade imbalance,” he explained.
GSV "Russia - Islamic World"
Photo: Federation Council
Based on materials from TASS