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14 March 2024, 10:45

FM: India considers embarking on FTA talks with EAEU

Photo courtesy of the Ministry of Foreign Affairs
Photo courtesy of the Ministry of Foreign Affairs
MINSK, 14 March (BelTA) – India is seriously considering a possibility to embark on free trade agreement talks with the Eurasian Economic Union (EAEU), Belarusian Minister of Foreign Affairs Sergei Aleinik said following his official visit to India, BelTA has learned.

According to Sergei Aleinik, interaction between India and the Eurasian Economic Union was discussed during his talks with the Indian foreign minister and the minister of commerce and industry. “My counterpart confirmed that India is seriously considering embarking on negotiations on a free trade agreement. We certainly agreed to maintain contacts on this issue,” said the foreign minister.

According to the information posted on the website of the Eurasian Economic Commission (EEC), technical consultations were held in 2018 and 2019 to agree on the format of the upcoming negotiations and the free trade agreement. The first round of talks was scheduled for March 2020, but was postponed due to the COVID-19 pandemic.

In September 2023, the Eurasian Economic Commission headquarters hosted a meeting between representatives of the EEC Trade Policy Department and the Industrial Policy Department and representatives of the Ministry of Commerce and Industry and the Government of India. They discussed cooperation prospects, work to activate free trade agreement talks, as well as prospects for deepening industrial cooperation. Indian Minister of External Affairs Subrahmanyam Jaishankar  previously announced plans to launch negotiations with the EAEU on a free trade zone at the start of 2024.
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