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EAEU will start talks on free trade zone with Indonesia, UAE in early 2023 — ministry

The member-states of the EAEU are Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan

MOSCOW, December 9. /TASS/. Negotiations between the Eurasian Economic Union (EAEU) and the UAE and Indonesia on creation of a free trade zone will start in early 2023, an official with Russia’s Economic Development Ministry told TASS.

"The agreement with Iran is on the final stage of completion, we expect to reach it in the near future. At the same time, negotiations on concluding free trade agreements with Indonesia and the United Arab Emirates will be launched early next year," the official said.

When asked about the creation of a free trade zone with Mongolia and Thailand, the ministry’s representative said that, given the already existing negotiation agenda, similar negotiation processes with these countries have not yet been launched.

"Of course, we plan for the future and analyze the feasibility of concluding such agreements with other countries, including Mongolia and Thailand. However, the final decision on them will be made jointly with our partners in the EAEU considering the interests and benefits for all parties from such potential agreements," the official said.

The EAEU is already negotiating the creation of free trade zones with Egypt, Israel, India and Iran.

In November, Thai Ambassador Sasiwat Wongsinsawat said in an interview with TASS that Thailand intends to negotiate and conclude an agreement on a free trade zone with the Eurasian Economic Union. According to the ambassador, in 2016 Thailand handed over a letter of intent, which is still being considered by the EAEU.

The member-states of the EAEU are Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan.