The Eurasian Economic Union (EAEU) and India are ready to intensify cooperation in the area of creating a free trade zone. This was reported by the Minister of Trade of the Eurasian Economic Commission (EEC), Andrey Slepnoy, during the 'Innoprom. India' forum.
A ministerial-level meeting between the EAEU and India took place in New Delhi on Thursday. The parties agreed to hold the next round of negotiations in November ahead of the visit of Indian Prime Minister Narendra Modi to Moscow.
Andrey Slepnoy emphasized that this round should be key, as it must focus on the main issues of market access. He added that the parties discussed agreements on key mutually beneficial goods, and generally, a serious understanding of the approach to the negotiation process has been reached, and instructions have been given to working groups.
Previously, at the end of last November, the parties held a round of negotiations on the free trade zone agreement between India and the EAEU. As Russian President Vladimir Putin noted, the creation of such a free trade zone would contribute to the development of trade ties between India and Russia.
During the first international industrial exhibition 'Innoprom. India', which is taking place in New Delhi from September 9 to 11 against the backdrop of the 18th BRICS summit, more than 120 companies from Russia and India are showcasing their products.
Responding to the question about concluding a free trade zone agreement next year, Slepnoy stated that he is not setting any deadlines because the current situation is unpredictable. However, he noted that the negotiations have their own internal logic, and they speak to facts: the relations between the parties are very hot and active at all levels, including the ministerial and expert levels, and everyone is ready to intensify work. He called this a 'guarantee of success.'