40 countries want to join free trade zone with Eurasian Economic Union
Bishkek (AKIpress) – Over 40 countries and entities, including China, Thailand, Indonesia and Cambodia are interested in signing a free trade agreement with the Eurasian Economic Union (EEU), Russian Economic Development Minister Alexey Ulyukaev said Monday.
The Eurasian Economic Union, which comprises Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia, is an international organization, which aims to achieve the free flow of goods and services between its member countries, Russian media report.
Vietnam signed a free trade deal with the bloc in May. India and Egypt are among other nations negotiating similar agreements.
“Global cooperation is an important trend now. Over 40 countries and international organizations are willing to establish a free trade zone with the EEU,” Ulyukaev stated at an East Asia Summit (EAS) in the Malaysian capital.
The minister added that the EAS countries’ total GDP had eached $60.5 billion in 2014, equal to 55.8 percent of the world’s GDP.
According to Ulyukaev, Russia is interested in establishing new mechanisms for cooperation between the countries of the EAS and EEU. In his view, active participation in the process will lead to the strengthening of regional ties, boosting the region’s investment attractiveness and providing Russian companies with new opportunities and access to new markets.