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EEU, Egypt to prepare FTA within a year and a half

Economy 01.12.2015 | 18:14

MOSCOW, 1 December (BelTA) - Preparation of a free trade agreement between the Eurasian Economic Union and Egypt will take about a year and a half, Ambassador of Egypt to Russia Mohamed El-Badri said at the Second Eurasian Economic Congress in Moscow, BelTA has learned.

"I think that this work will take a year and a half. This is the period which we need to prepare the agreement,” the Egyptian diplomat said.

Currently, the Eurasian Economic Union has a free trade area agreement only with Vietnam. A number of states expressed their willingness to cooperate in such a format.

The second Eurasian Economic Congress has been organized by the Eurasian Communication Center. The forum has provided a platform for dialogue between the government officials, businessmen, and representatives of the media of the EEU member states. The congress is aimed at discussing topical matters and practical aspects of the development of integration in Eurasia.

Other items on the agenda include the formation of the common pharmaceutical market, the EEU Customs Code, investments, infrastructure projects, ways to boost trade and develop capital markets, and cooperation with the Eurasian Union, Arab countries, China and India.

Partaking in the congress are ministers of the Eurasian Economic Commission and representatives of the EEU member states and other countries interested in developing cooperation with the union.

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