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UAE, Eurasian Economic Union may conclude free trade zone agreement this year

Preliminary agreements may be reached in coming months

ABU DHABI, February 22, /TASS/. The United Arab Emirates and the Eurasian Economic Union may enter into the free trade zone agreement in 2024, UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi told TASS.

"Negotiations with the Eurasian Economic Union are still in progress," the minister said. "We are working on the agreement on comprehensive economic partnership with Eurasian [Economic] Union member-countries to be concluded in 2024," he added.

Preliminary agreements may be reached in coming months, the minister noted. "I expect a number of agreements to be achieved in 2024. If they are indeed are implemented in coming months and the tradeoff [is reached], negotiations will be accelerated," the minister of state stressed.

Free trade zone negotiations between the UAE and the EAEU started last March. The parties held two rounds of consultations during that period.