In the context of active cooperation between the Eurasian Economic Union countries and the Arab East nations, as well as the recently concluded second Russia – Africa summit, Moscow hosted the sixth round of negotiations on making an agreement on the free trade zone between the EAEU and Egypt.
The Union Member States and this Arab Republic enjoy close trade and economic ties facilitating mutual trade in a wide range of goods even in today's geopolitically challenging times.
The future agreement will create a necessary foundation for expanding cooperation between the Egyptian partners and EAEU enterprises that view Egypt as a gateway to Africa. The agreement will also promote increased investment between our countries.
Following the dialog that took place on August 15-17, the parties reiterated their intention to strike the ambitious deal.
"A significant progress has been made in building consensus on the chapters of the regulatory part of the draft agreement. We have agreed our further steps to review the outstanding issues in an intersessional format as soon as possible," noted Mikhail Cherekaev, Deputy Director of the Trade Policy Department of the Eurasian Economic Commission.
The Supreme Eurasian Economic Council decided to start negotiations with the Arab Republic of Egypt in 2016.