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Indian commerce minister states lack of possibilities for free trade zone talks with EAEU

It is reported that India and the EAEU completed preliminary expert consultations on the free trade zone formation in December 2021

NEW DELHI, August 10. /TASS/. Russia and EAEU (Eurasian Economic Union) member states turn to India on conclusion of a free trade zone agreement, though the Indian Commerce and Industry Ministry is facing the lack of possibilities to hold such talks, the Mint newspaper reported Wednesday citing Minister Piyush Goyal.

"The talks on a free trade agreement [between India] and the UK are well underway. The talks with Canada and the EU are underway. The talks with Israel are underway," he said.

"Many countries turn to India, including Russia and CIS states, Switzerland and other EU countries, as well as the Persian Gulf nations. The commerce ministry is facing the lack of possibilities to start the talks with a higher number of countries," the minister said.

When speaking about the agreement with Russia and CIS states, he meant the free trade zone agreement between India and the EAEU. India and the EAEU completed preliminary expert consultations on the free trade zone formation in December 2021.

Russian President Vladimir Putin and Indian Prime Minister Narendra Modi noted the importance to start the talks on that agreement in a statement following the Russian-Indian summit in New Delhi last December.

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