NIZHNY NOVGOROD, August 16. /TASS/. Agreements on a free trade zone between the Eurasian Economic Union (EAEU) and the United Arab Emirates (UAE), Indonesia and Egypt are almost finished, Russian Industry and Trade Minister Anton Alikhanov said at a meeting of BRICS industry ministers.

"Free trade agreements are a major and efficient mechanism of developing the EAEU’s relations with foreign partners. They allowed seriously increasing trade turnover with Vietnam, Serbia and Iran. Agreements with the United Arab Emirates, Indonesia and Egypt are at advanced stages," he said.

The minister also suggested that the possibility of cooperation between BRICS and EAEU be considered. "Today the EAEU is a deeply integrated regional economic integration between five countries: Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan. On the EAEU space the freedom of movement of goods, services, capital, workforce is ensured. A common regulatory policy is pursued in key sectors of the economy. Due to this, the Union is actively developing, with mutual trade and industrial cooperation growing," he stressed.