EAEU plans to create a free trade zone with Israel

Thursday, 20 October, 2016 - 08:15

The Russian Embassy in Israel informed that the first round of negotiations between Israel and the Eurasian Economic Union on a free trade agreement was scheduled for November.

The negotiations are expected to be held in Kaliningrad.

There are no official comments about the possibility to sign all necessary documents before the end. However, the Israel's ambassador in Moscow reports that the work is going on.

Experts consider this agreement to affect positively the markets of all member countries. If Israel increases the export of vegetables to 8-9%, the country hopes the EAEU to cooperate in transferring technology. Russia, in turn, is planning to increase greatly the export of grain crops.

Moreover, this year Russia has become a world leader in grain exports, ahead of Canada and the United States by more than 3.5 billion tonnes of product.