EEU, Egypt complete first talks on Free Trade Treaty

18 January, 2019, 10:55 569
EEU, Egypt complete first talks on Free Trade Treaty

The Document sets new opportunities for developing and diversifying inter-State trade relations. 

On 15-17 January the first round of talks on the conclusion of the Treaty on Free Trade between the Eurasian Economic Union (EEU) and the Arab Republic of Egypt took place in Cairo (Egypt), a website of the Eurasian Economic Commission has informed.

In this connection, the visit of Armenian Vice Prime Minister, EEC chairman Mher Grigoryan and a member of the Board (Minister) for Trade of the EEC Veronika Nikishina was paid to Cairo.

The sides discussed the Treaty’s core provisions, set the agreed views and determined a schedule of further work. The EEU and Egypt demonstrated the readiness to a constructive dialogue in the different matters outlined in the Treaty and confirmed their desire to work out a full progressive treaty aimed at qualitative ensuring the predictability of trading conditions, the transparency of trade regulation.

The treaty will set new opportunities for the EEU member States to develop and diversify trading with Egypt. The trade turnover between the EEU countries and Egypt made up US $5.8 billion for nine months of 2018, a 21.2% growth compared with 2017.

As part of the visit, high-level meetings of Mher Grigoryan and Veronika Nikishina with Egyptian Prime Minister Mostafa Madbouly and Minister of Trade and Industry of Egypt Amr Nassar were held.

The sides marked the high significance of the Treaty in developing the trade and economic ties between the EEU member States and Egypt, expressing the readiness to provide necessary support for the talks’ successful advancement.

The EEU holds talks to reach free trade treaties with Egypt, Singapore, Serbia and Israel. 

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