MOSCOW, 29 August (BelTA) – Prospects of creating a free trade zone between the Eurasian Economic Union and India will be determined in September. The statement was made by Chairman of the Board of the Eurasian Economic Commission Tigran Sarkisyan as he met with Ambassador of India to Russia Pankaj Saran on 29 August, the Commission's press service told BelTA.
Tigran Sarkisyan noted that the Eurasian Economic Commission had assigned high priority to establishing a dialogue with India. He reminded that a joint taskforce was established in June 2015 to consider the advisability of signing a free trade agreement between the Eurasian Economic Union and India. In September the taskforce is supposed to present a report on forms and avenues of cooperation that will benefit all the participants, said the official. “India is one of the world's most rapidly growing economies. We are confident in the future of this country. All the Eurasian Economic Union states are interested in such a trade partner. Apart from that, cooperation between the Eurasian Economic Union and India will contribute to the implementation of large-scale infrastructure projects in the region.”
According to Pankaj Saran, India carefully monitors what is going on in the Eurasian region. “We would like the taskforce to present results of its work as soon as possible,” noted the Ambassador. “India is ready to work with the Eurasian Economic Union in various formats. In my opinion, we should take a broader look at cooperation opportunities. It will be easier for us to find common interests then,” said Pankaj Saran. The Ambassador was confident that India can make its own contribution to the prosperity of the Eurasian region.
The taskforce includes experts of the Eurasian Economic Commission, ministries and government agencies from the EEU member states and India. The taskforce is supposed to provide a deep systemic analysis of prospects of creating a free trade zone between the Eurasian Economic Union and India. The taskforce is also supposed to decide what areas the agreement can encompass and to work out approaches to addressing sensitive issues for specific areas. As a result of the work the taskforce will present a special report and recommendations that the Supreme Eurasian Economic Council will use to decide on starting free trade talks between the Eurasian Economic Union and India.
