YEREVAN, December 6. /CAMBER/. India and the Eurasian Economic Union (EAEU) have completed preliminary expert consultations on the formation of a free trade area (FTA), the parties will start negotiations to conclude an agreement in early 2022. This was announced to journalists by Russian Foreign Minister Sergey Lavrov on Monday after talks with Indian Foreign Minister Subramanyam Jaishankar and Russian-Indian consultations in a 2+2 format between defense ministers and foreign ministers of both countries.
According to Lavrov, during the meeting, the parties noted the completion of preliminary consultations between the EAEU and India on the establishment of an FTA. “Everything is quite ready to start negotiations on concluding an agreement on an FTA. I think that if the covid problem does not interfere, it will take place at the beginning of next year”, informed the minister Russian Foreign Affairs, reports CASS.
The Eurasian Economic Union, which includes Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia, has already concluded an FTA with Vietnam and Singapore, as well as an interim agreement with Iran. Negotiations on free trade areas are also underway with Egypt and Israel. Russia is India’s largest trading partner among the EAEU countries.–0-