EAEU presidents in Oct may decide to hold free trade zone talks with Israel

MOSCOW, August 25. /TASS/. The presidents of the Eurasian Economic Union’s member-states are expected to conclude an agreement in October to enter into negotiations with Israel on creating a free trade zone, the Eurasian Economic Commission’s trade minister, Andrey Slepnyov, has told the media. "A draft resolution of the Supreme Council on the beginning of talks with Israel has been approved. We hope that the presidents will put their signatures to the resolution when they meet in October," he said. Slepnyov said should a free trade zone with Israel become a reality, there will emerge good prospects for trade in the whole range of farm products. "Israel has good prospects regarding medical products and drugs, telecommunication equipment and some types of engineering equipment," he said. The EAEU hopes that the yet-to-be concluded agreement will promote mutual investment and encourage the exchange of technologies. "We estimate Russia’s maximum trade surplus resulting from the introduction of a free trade zone at $100-120 million. Kazakhstan and Belarus can count on $10 million and Armenia, on $1 million," Slepnyov said. Read more