Talks over Egypt-Eurasian Union free trade agreement to start late-2016: minister

The official negotiations over the free trade agreement between Egypt and Russian-led Eurasian Economic Union (EEU) are expected to start before the end of 2016, Egyptian Trade Minister Tarek Qabil stated Thursday.

He made these remarks during the bilateral discussions with Russian Economic Minister Alexey Ulyukaev on the sidelines of the 20th International Economic Forum in St. Petersburg (SPIEF).

SPIEF is an annual Russian business event for the economic sector that brings together the chief executives of major Russian and international companies, heads of state, political leaders, prime ministers, deputy prime ministers, departmental ministers, and governors.

It aims at providing a practical tool for business, helping to overcome the barriers, both geographical and informational, dividing Russia and other countries.

The FTA is set to participate in removing customs restrictions and trade barriers to boost flow of trade between Egypt and EEU state members Belarus, Kazakhstan, Russia  Armenia, and Kyrgyzstan.