Russian, Indian students creating friendship satelliteScience & Space August 16, 21:46
Zenit St. Petersburg loses 0:1 against FC Utrecht in first leg of Europa League play-offSport August 16, 21:34
Saakashvili plans to return to Ukraine on September 10World August 16, 21:23
Russian diplomat concerned over US and North Korean aggressive statementsRussian Politics & Diplomacy August 16, 20:32
Diplomat says US-made chemical weapons found in Syria prove West’s support for terroristsRussian Politics & Diplomacy August 16, 20:14
Russia’s St. Petersburg to host World Travel Awards in SeptemberSociety & Culture August 16, 19:37
Combat aircraft to make up over 50% in Russian state arms seller’s exportsMilitary & Defense August 16, 19:22
Poroshenko orders probe into reports about supplies of missile technologies to North KoreaWorld August 16, 19:08
Over 700 policemen to provide security at UEFA Europa League’s match in Russia's KrasnodarSport August 16, 19:02
SOCHI, May 19. /TASS/. It is necessary to prepare a feasibility study for making an agreement on a free trade zone between Singapore and the Eurasian Economic Union (EAEU), Singapore's Prime Minister Lee Hsien Loong said at a meeting with Russian President Vladimir Putin.
"We assume that the agreement on a free trade zone between Singapore and the EAEU will support the development of trade. A feasibility study to assure us that an agreement like that is economically viable, would be the first step towards making such an agreement," he said.
According to Lee Hsien Loong, many Russian companies, not only big ones such as Gazprom and Lukoil, but many others, particularly in the IT sector, already work in Singapore. "I assume that by creating a free trade zone not only will we boost the volume of trade turnover but also diversify our trade," he said.
Singapore's Prime Minister also mentioned R&D works among promising areas for bilateral cooperation. "At a regional scale we’re pleased with the fact that Russia’s role at the ASEAN platform has been rising. And of course it would be perfect if we develop cooperation and create special relations and a free trade zone, between ASEAN and EAEU," he added.
According to Vladimir Putin, the creation of a free trade zone between the Eurasian Economic Union and Singapore would boost bilateral trade turnover.
"Obviously the creation of a free trade zone between the Eurasian Economic Union and Singapore has pushed the volume of trade turnover up," Putin said.
The relations between Russia and Singapore are developing, President said, adding that Moscow will "facilitate further development of the ties" between the states.
Putin also noted that mutual investments are growing. Russia’s investment in Singapore currently totals $2.5 bln while Singapore’s investment in the Russian economy stands at $1 bln, he said.
Putin added that "many Russia’s partners have taken interest in cooperation with the Eurasian Economic Union, and we will eagerly consider the issue."