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Idea of closer ties between APEC and EAEU finds support — Russian diplomat

November 16, 2016, 23:58 UTC+3 LIMA

"Task number one is to agree on the format, parameters of the future free trade zone," Valery Sorokin said

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LIMA, November 16. /TASS/. Russia’s idea on establishing closer contacts between APEC (Asia-Pacific Economic Cooperation) and EAEU (Eurasian Economic Union) finds support and understanding, the agendas of the associations are similar, Russian Foreign Ministry’s Ambassador-at-Large and APEC Senior Official Valery Sorokin told TASS on Wednesday.

"The key topic is deepening regional economic integration," Sorokin said after the Senior Officials’ Meeting. "Task number one is to agree on the format, parameters of the future free trade zone," he added. "Over the last year, active work on this issue was carried out at the expert level in APEC, the so-called collective strategic research into the issue of forming a free trade zone. Russia is very actively participating in this dialogue," he noted.

The Russian side said in the report that "along with main integrational mechanisms, such as Trans-Pacific Partnership, the positive experience of regional initiatives of ASEAN’s economic associations will also be considered — the Pacific Alliance, and, of course, the Eurasian Economic Union," Sorokin said.

"We actively promoted the necessity of establishing closer ties between EAEU and APEC. It finds understanding and support, though not all APEC economies are yet ready to agree to establishing such direct contacts, mostly for geopolitical reasons," the diplomat stressed.

"However, this idea is definitely in line with APEC’s agenda. The agendas of APEC and EAEU are very similar, and even the same on many issues," Sorokin concluded.

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