BAKU, Azerbaijan, December 21. The expansion of
the Eurasian Union's external trade partners continues; this year,
free trade agreements with Iran entered into force, new agreements
were concluded with the UAE and Mongolia, and a similar document
with Indonesia will be signed today, said Russian President
Vladimir Putin during a meeting of the Supreme Eurasian Economic
Council, Trend
reports.
He noted that the agreement covers over 90% of the commodity
nomenclature and approximately 95% of mutual trade turnover.
Putin emphasized that this opens up strong prospects for
deepening multifaceted interaction between the "Five" member states
and one of the largest and most dynamically developing economies in
Asia and the world. Furthermore, it improves the access of Eurasian
Union products to the markets of the Asia-Pacific region.
The President added that a preferential agreement with India - a
country with a market of about 1.5 billion people and a GDP of
approximately $4 trillion - is currently being drafted. The first
round of consultations on the text of the agreement took place a
month ago, and during a recent visit to New Delhi, the Indian side
expressed readiness to accelerate the document's approval
process.
