Free trade zone between EAEU, Singapore to boost bilateral trade - Russian President

SOCHI, May 19. /TASS/. The creation of a free trade zone between the Eurasian Economic Union (EAEU) and Singapore will boost bilateral trade turnover, Russian President Vladimir Putin said at a meeting with Singapore's Prime Minister Lee Hsien Loong Thursday. "Obviously the creation of a free trade zone between the Eurasian Economic Union and Singapore has pushed the volume of trade turnover up," Putin said. The relations between Russia and Singapore are developing, President said, adding that Moscow will "facilitate further development of the ties" between the states. Putin also noted that mutual investments are growing. Russia’s investment in Singapore currently totals $2.5 bln while Singapore’s investment in the Russian economy stands at $1 bln, he said. Putin added that "many Russia’s partners have taken interest in cooperation with the Eurasian Economic Union, and we will eagerly consider the issue." Read more