Russian President Vladimir Putin confirmed that Egypt’s accession to the free trade agreement, along with some other countries, is being discussed with the Eurasian Economic Union, RT reported on Friday.
During the Eurasian Economic Union forum, the Russian president explained that the union is open to cooperation with all foreign partners and actively seeks to develop mutually beneficial relations with many countries and entities.
“In May, the free trade agreement with Iran entered into force, and economic cooperation agreements are planned with the United Arab Emirates and Mongolia. Trade agreements with Indonesia, Egypt, and India are also under discussion,” Putin said.
The Russian President concluded his remarks by saying, “Building interaction in the new multipolar world must be based on justice and equality. Therefore, I believe we are on the right track and making steady progress in our relations with our partners.”
The Russian Minister of Industry and Trade Anton Alikhanov confirmed in May that the conclusion of the free trade agreement between Egypt and the Eurasian Economic Union would represent the main driver of growth in trade exchange between Russia and Egypt.
The Eurasian Economic Union was established on January 1, 2015, and comprises five countries: Russia, Belarus, Kazakhstan, Armenia, and Kyrgyzstan.
The union aims to promote economic integration among member states through a single market that allows the free movement of goods, services, capital, and labor, as well as to coordinate economic policies in the areas of transportation, energy, agriculture, foreign trade, and more.
