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Signing of Egypt-EAEU free trade zone agreement expected next year — Russian envoy

It is noted that the EAEU and Egypt have been negotiating the free trade zone creation since 2019

MOSCOW, June 14. /TASS/. The signing of the agreement on free trade zone creation between Egypt and the Eurasian Economic Union (EAEU) may be expected next year, Russian Ambassador to Cairo Georgy Borisenko said in an interview with TASS.

"Our negotiators in the Eurasian Economic Commission hope that we will be able to reach the signing of the agreement next year," he said when commenting on respective negotiations.

A variety of difficulties persist as "each side has certain requirements and protects its positions," the diplomat noted. "For example, the creation of the preferential regime to the extent possible for industrial goods is important for the EAEU’s side. Concurrently our Egyptian friends ask that a similar free regime to the extent possible be [created - TASS] for agriculture goods. From the EAEU’s side it should be agreed on within the framework of five countries," Borisenko explained.

The EAEU and Egypt have been negotiating the free trade zone creation since 2019, he said. "Naturally, the coronavirus pandemic slightly slowed the process for a while, though consultations have actively revived since last year. The fifth round was held in October, whereas the sixth round of negotiations may be held this July," the diplomat added.

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