Eurasian Economic Union-Egypt free trade pact is a ‘win-win deal’

The free trade agreement between Egypt and Eurasian Economic Union (EAEU) will be a win-win deal, the Egyptian Ambassador to Russia Mohammed Al-Badri said Tuesday.

In 2009, an agreement was signed on free trade between the Russian Federation and Egypt, the ambassador said.

“After formation of the EAEU, we got a chance to conclude an agreement with 3 member-countries of the union and later with Armenia,” Russia’s TASS news agency quoted Al-Badri as saying.

According to Al-Badri, “the agreement has major advantages for all sides as it will not only allow Egypt to export its goods to the EAEU member-states, but will also give the union’s states a possibility to supply their goods to Egypt.”

“Our agreement on free trade with Russia ceased to be effective when the Eurasian Economic Union was formed. In 2014, we started to cultivate new relations.

“We expect a report on potential signing of such an agreement (between Egypt and EAEU) to be presented in the nearest future. Further on we’ll be discussing particular issues of the agreement. There are a lot of details. I think the process will take half a year,” the ambassador said.

Source: Malaysian National News Agency or Bernama