Indian Economy News

India to sign free trade pact with Eurasian Economic Union

  • IBEF
  • June 19, 2015

Moscow: India will sign a Free Trade Agreement (FTA) with the Eurasian Economic Union (EAEU), comprising of Russia, Belarus, Kazakhstan and Armenia, to increase trade and improve economic ties with the region. The agreement is to be signed at St. Petersburg International Economic Forum (SPIEF - 2015). EAEU, with a GDP of US$ 2.2 trillion last year, had an industrial production of US$ 1.3 trillion. Apart from India, other nations like Egypt, Vietnam, Iran and Israel are also negotiating for the formation of free trade zone agreements with the EAEU.

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