Russia, Egypt study inking PTA by 2017 to hike intra-trade volume

Egypt studies signing a Preferential Trade Agreement (PTA) with Russia by the beginning of 2017 to boost volume of mutual intra-trade, Head of Egyptian Chemical Export Council (CEC) said Tuesday.

Khaled Abu El Makarem added that Egypt would sign the PTA after finishing the negotiations with the Eurasian Economic Union (EAEU) on trade liberalisation with EAEU member states.

The EAEU encompasses Belarus, Kazakhstan, Russia, Armenia and Kyrgyzstan.

The chairperson clarified that the CEC conducted an initial study on means of boosting exports of chemicals sector to Russia and Kazakhstan in addition to other landlocked state.

The PTA is a trading bloc that gives preferential access to certain products from the participating countries.