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Israel seeks to sign deal on free trade zone with Eurasian Economic Union — minister

October 28, 2015, 8:17 UTC+3 TEL AVIV
Israel has given "high priority" to the talks on the free trade zone with the EAEU
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© AP Photo/Sebastian Scheiner, File

TEL AVIV, October 28. /TASS/. Israel is interested in signing an agreement on the free trade zone with the Eurasian Economic Union (EAEU) as soon as possible, the country’s Minister of Immigrant Absorption, Zeev Elkin, told Russian reporters on Wednesday.

"We believe that this has a big potential also for Israel’s economy and there may be also the interest for the countries part of the Customs Union," said the minister, who also co-chairs the Russian-Israeli inter-governmental commission.

"I think there is no reason to delay this," he said.

Israel has given "high priority" to the talks on the free trade zone with the EAEU, Elkin said. "We are sincerely interested in doing this efficiently to the maximum level, and we propose that the Russian side should launch talks already in early 2016 and hold at least two rounds of negotiations in 2016," he said.

The Israeli politician said it is difficult to forecast the exact date for reaching the deal. "This depends on the number of difficult issues but as a rule if the work is normal, then it is possible to reach signing such an agreement in two years," he said.

"For our part, we will do our utmost so that this happens as soon as possible," the minister stressed.

In mid-October, the Supreme Eurasian Economic Council adopted a decision that the Eurasian Economic Union would launch talks with Israel on creating the free trade zone.

The Eurasian Economic Union (EAEU) is the economic bloc which came into force in January 2015 and now consists of Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan.

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