MOSCOW, December 19. /TASS/. Establishment of a free trade zone between the Eurasian Economic Union (EAEU) and Serbia can open new opportunities for development of business ties, Russian President Vladimir Putin said on Tuesday after talks with his Serbian counterpart Aleksandar Vucic.

"New opportunities to build up business ties can be opened by establishment of the free trade zone between the Eurasian Economic Union and Serbia. Such consultations are already held," Putin said.

Both countries are strengthening cooperation, particularly in the transport infrastructure sphere, the Russian president said. Russia and Serbia are also set to deepen cooperation in the banking sphere, Putin added.