Thursday, November 16 2017 19:51
Naira Badalian

Work began on the preparation of a free trade agreement between the countries of the EAEU and India

Work began on the preparation of a free trade agreement between the  countries of the EAEU and India

ArmInfo. The current agenda  of trade and economic relations of the Eurasian Economic Union (EEA)  with India was discussed by the Minister for Trade of the Eurasian  Economic Commission (ECE) Veronika Nikishina and Indian Minister of  Industry and Trade Suresh Prabhu.

The main theme was the preparation of the parties for the start of  negotiations on the conclusion of a free trade agreement. The expert  meeting, which will determine the main provisions of the forthcoming  agreement, is scheduled for early next year.  In addition, during the  discussion, the opportunities of various platforms for activating the  dialogue of business between the countries of the EAEU and India were  considered. From the Indian side, an invitation was received to the  companies of the Union to take part in the annual business event of  the India Partnership Summit in February next year.

The Eurasian Economic Commission, a permanent supranational  regulatory body of the Eurasian Economic Union, began its work on  February 2, 2012. The ECE includes representatives from Armenia,  Belarus, Kazakhstan, Kyrgyzstan and Russia. Decisions of the  Commission are binding for execution in the countries of the Union.  Chairman of the Board of the Eurasian Economic Commission - Tigran  Sargsyan.  The treaty on the establishment of the Eurasian Economic  Union was signed on May 29, 2014, entered into force on January 1,  2015. The Union ensures the freedom of movement of goods, services,  capital and labor, the conduct of a coordinated, coordinated or  unified policy in various sectors of the economy.

 The purpose of the Union is to provide conditions for the stable  development of the economies of the member states in the interests of  raising the standard of living of their people, comprehensive  modernization, cooperation and increasing the competitiveness of  national economies. The Supreme Eurasian Economic Council is the  supreme body of the Union, which includes the Presidents of the  Member States. The Eurasian intergovernmental economic council is a  body composed of heads of governments of member states. The Council  of the Eurasian Economic Commission is a body composed of  vice-premiers of the member states. In accordance with the annual  rotation in 2017, the organs of the Union are chaired by Kyrgyzstan.  President of Kyrgyzstan Almazbek Atambaev is chairman of the Supreme  Eurasian Economic Council.

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