EEU, Israel to Hold Negotiations on Free Trade Zone Creation Before 2017

The Eurasian Economic Union (EEU) countries and Israel will hold the first round of talks on creation of a free trade area by the end of 2016, Russian Prime Minister Dmitry Medvedev said Thursday.

MINSK (Sputnik) — He noted that though the negotiating process on a free trade area creation was time-consuming, it was important for the EEU development.

"Before the end of the year the first round of talks [on a free trade area creation] is scheduled with Israel. Negotiations are to be launched with Serbia and a number of other states," Medvedev said at the expanded meeting of the Eurasian Intergovernmental Council.

Earlier on Thursday, Prime Minister of Kazakhstan Bykytzhan Sagintayev said that the EEU countries held negotiations on the creation of a free trade area with South Korea, Egypt, Iran and India, while the interest in cooperation emerged from South American countries.