ArmInfo. Member of the Board (Minister) for Trade of the Eurasian Economic Commission (EEC) Veronika Nikishina and Minister of Trade and Industry of the Arab Republic of Egypt Amr Nassar signed the terms of reference for the negotiations, which sets out the main objectives, principles and procedure of further work. The meeting took place on November 19 at EEC headquarters.
Veronika Nikishina stressed the importance of Egypt as a trading partner of the EEU, with which individual countries of the Union already have strong trade and economic ties. Amr Nassar, in turn, noted that the Egyptian side attaches great importance to the upcoming talks with the Eurasian Economic Union (EAEU) and expressed hope for the early launch of the negotiation process.
The parties agreed to hold the first round of negotiations in the second half of January 2019. Currently, there is a positive trend in trade turnover between the EAEU countries and Egypt. Compared with January-August 2017, the trade turnover for the same period in 2018 increased by 28.4% and amounted to $ 4.25 billion.
Negotiations on establishing free trade zone between the EAEU and Egypt are conducted on behalf of the presidents of the EAEU member states. In October, this issue was discussed at the level of the Chairman of the EEC Board Tigran Sargsyan and President of Egypt Abdel Fattah Saeed Hussein Khalil el-Sisi. Besides, the EEC is negotiating with Serbia, Singapore, Israel, and India on establishing free trade zone.
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