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    Eurasian Economic Union May Sign Free Trade Deal With Israel in 2017

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    The Russia-led Eurasian Economic Union (EEU) may sign a free trade agreement with Israel in 2017.

    SOCHI (Sputnik) – The Russia-led Eurasian Economic Union (EEU) may sign a free trade agreement with Israel in 2017, Eurasian Economic Commission’s Minister in charge of Trade Veronika Nikishina said Thursday.

    "We want to effectively begin talks on a free trade deal with Israel and it is possible that we will be able to complete it the next year already," Nikishina said on the sidelines of the Russia – ASEAN Business Forum in the Russian resort city of Sochi.

    The EEU Commission wants to create a talks schedule with different non-member countries on possible free trade pacts based on the readiness of potential benefits study or the stage of the negotiations, she added.

    China, Iran and Israel would top the priority-based schedule, Nikishina noted, stressing that the EEU research groups are completing the study of benefits in a deal with India and Egypt. There is also a long-term perspective of a deal with South Korea, the minister added.

    Cambodia and Singapore have filed formal requests for the consideration of a free trade deal with the EEU, Nikishina stated.

    The EEU, comprising Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan, is an international organization that encourages regional economic integration through the free movement of goods, services, and people within the union. It came into being on January 1, 2015.

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    Tags:
    forum, business, Free Trade Agreement, Russia-ASEAN summit, Eurasian Economic Union, Sochi, Israel, Russia
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