Egypt, Eurasian Economic Commission discuss free trade agreement

Daily News Egypt
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Minister of Trade and Industry Ahmed Samir met with Andrey Slepnev, Minister of Trade of the Eurasian Economic Commission. The meeting dealt with the development of the free trade agreement negotiations between Egypt and the countries of the Eurasian Economic Union.

Samir said that this agreement will contribute to strengthening joint cooperation between Egypt and  countries of the Eurasian Economic Union with regard to developing  trade relations at bilateral and regional levels, settling joint industries and enhancing investment cooperation between the two sides, in the interest of the Egyptian economy and the economies of the union countries alike.

Samir explained that it was agreed during the meeting to hold the sixth round of negotiations for the agreement in July in one of the EU countries.

He added that the coming period will witness intensive consultations between the work teams concerned with the two sides to discuss outstanding points in the negotiations, in addition to exchanging indicators, information and developments that have been reached before the start of the next round of negotiations.

The minister pointed out that reaching a final free trade agreement between Egypt and the Eurasian Union countries represents a real beginning of a new phase of distinguished trade relations between Egypt and the EU countries, highlighting the great progress that has been made in the ongoing negotiations between the two sides regarding the agreement.

Samir disclosed that he will participate in the next edition of the international industrial exhibition INNOPROM, which will be held in Russia, along with a large group of representatives of Egyptian companies interested in the Russian market in various industrial sectors to discuss opportunities and possibilities of partnership with their Russian counterparts. 

Minister of Trade of the Eurasian Economic Commission Andrey Slepnev affirmed the keenness of the Union countries to conclude a free trade agreement with Egypt, especially since there is a great consensus of visions between the two sides on many negotiation issues.

He stated that the Union will include a number of countries, including Belarus and Kazakhstan, to participate in the rounds of negotiations for a free trade agreement with Egypt.

Slepnev said that Egypt has a great opportunity for its products to enter the markets of the Eurasian Union, especially consumer and food commodities, highlighting the Union’s aspiration to achieve the largest possible degree of trade liberalisation between Egypt and the member states, especially in agricultural and industrial commodities.

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