News

16.09.2021 (Обновлено: 07.07.2022 12:12)

EEC invites India to intensify negotiations on concluding preferential trade agreement

Mikhail Myasnikovich, Chairman of the Board of the Eurasian Economic Commission, and Subrahmanyam Jaishankar, Minister of External Affairs of India, exchanged views on intensifying the negotiation process on the Agreement on Free Trade Area between the EAEU and India on the sidelines of the SCO Member States’ summit held on September 16 in Dushanbe.

"The decision to start negotiations was adopted by the Supreme Eurasian Economic Council as far back as December 2016. We bend on moving to direct negotiations and their holding within a reasonable time and hope that India shares our intention to start discussing the content of the future agreement as soon as possible," Mikhail Myasnikovich stated.

The Indian side confirmed its readiness to continue joint work. 

For reference:

As of 2020, the trade turnover between the EAEU and India amounted to 12.4 bln US dollars, having decreased by 11.3%. At the same time, the trade turnover recovers in January-June 2021: it amounted to 6.5 bln US dollars, having shown an increase of 7.6% compared to the same period in 2020. In 2020, India's share in the EAEU's foreign trade turnover amounted to 2% and as of H1 of 2021 it was 1.76%.