The Eurasian Economic Union (EAEU) should continue its preferential trade agreement negotiations with such countries as Egypt, Israel, Serbia and Singapore this year and engage in similar talks with India, Russian Prime Minister Dmitry Medvedev said on Friday
ALMATY (Pakistan Point News / Sputnik - 01st February, 2019) The Eurasian Economic Union (EAEU) should continue its preferential trade agreement negotiations with such countries as Egypt, Israel, Serbia and Singapore this year and engage in similar talks with India, Russian Prime Minister Dmitry Medvedev said on Friday."We need to actively continue negotiations with our partners on preferential trade agreements with Singapore, Serbia, Egypt, Israel, and launch similar negotiations with India," Medvedev said at the EAEU Intergovernmental Council, which started in the Kazakh city of Almaty earlier in the day.
According to the prime minister, these talks will demonstrate the effectiveness of the Eurasian Economic Union, its ability to negotiate and honor contracts, and the viability of the union as a whole.
Medvedev noted that last year, the EAEU already made good progress in terms of the integration of its members and economic activities. In particular, trade inside the union grew by almost 12 percent over the first 10 months of 2018 year-on-year, while commercial exchanges with the EAEU partners rose by 21 percent.
The Eurasian Economic Union is a rather young international organization, which currently comprises only five members: Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. The EAEU is aimed at facilitating regional economic cooperation through the free movement of capital, goods, services and labor.
