The Eurasian Economic Union (EEU) and the United Arab Emirates (UAE) will begin the first round of negotiations on a free trade area (FTA) agreement on Monday, said Minister of Trade of the Eurasian Economic Commission (EEC) Andrey Slepnev.
"We almost have an agreement with Egypt on the way out now. <...> The second aspect about new directions: now our negotiations will be held, today the first round starts in the [United] Arab Emirates, we have agreed to work in a fast track mode. Now we have a slightly different speed than we started earlier," said Slepnev, speaking at the integration forum "Expanding the horizon: the strategy of the Eurasian economic integration in a new environment and the role of business."
At the same time, the EEC trade minister told about the first round of the FTA with Indonesia. "At the end of March we have the first round with Indonesia. Indonesia is a huge market, <...> rapidly developing," Slepnev said.
Earlier, the Russian ministry of economic development reported that the first full-length talks on a free trade zone between the EEU and the UAE will be held in early March in Dubai. This information was reported following a meeting between Russian Minister of Economic Development Maxim Reshetnikov and UAE Ambassador to Russia Mohammed Al-Jaber on the development of trade, economic and investment cooperation.
Earlier, Russian Deputy Foreign Minister Alexander Pankin told TASS that Indonesia and the UAE showed a constructive attitude to the creation of a free trade zone with the EEU, and the sides would hold talks in early spring.
GSV "Russia - Islamic world"
Photo: Eurasian Economic Commission
Based on materials from TASS