News

02.06.2022 (Обновлено: 16.06.2022 14:06)

Conclusions on the expediency of signing a free trade agreement between the EAEU and the UAE can be drawn this year already

Andrey Slepnev, Minister in charge of Trade of the Eurasian Economic Commission, discussed the current state and prospects for developing mutual trade and economic relations with Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade of the United Arab Emirates (UAE). The meeting was held via videoconferencing.  

 "I would like to emphasize once again that we consider the UAE as one of the most promising partners for cooperation," Andrey Slepnev emphasized.

   He informed his vis-a-vis that in April the Council of the Commission had adopted a disposition to form a joint research group to study the expediency of concluding a free trade agreement between the Eurasian Economic Union and the UAE. Both interlocutors declared in favor of intensifying the process of group report preparation. This will make it possible to consider starting negotiations as early as at the end of the year at the next EAEU summit.

"In general, we have a strong consensus on the development of interaction with the UAE. Last week, the leaders of the Union countries reconfirmed the support of cooperation deepening in their speeches at the meeting in Bishkek," EEC Minister in charge of Trade concluded.

For reference

In 2021, the EAEU trade turnover with the UAE grew by 60.9% compared to 2020, reaching 6.3 bln US dollars. In particular, import amounted to around $418 mln (6.8% reduction) and export to $5.9 bln (69.4% growth).