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Thursday, 4 June 2020

Gov’t to resume trade talks with Eurasian Economic Union

Gov’t to resume trade talks with Eurasian Economic Union: Trade and Industry Minister Nevine Gamea will soon resume expert-level trade agreement talks with the Eurasian Economic Union (EAEU) with an eye on holding ministerial-level negotiations in 4Q2020, following a call with the union’s trade minister, Andrey Slepnev, according to a ministry statement. The potential trade agreement, first proposed in 2018, would see the creation of customs-exempt trade zones in Egypt. The EAEU is set to build infrastructure in Egypt’s Russian Industrial Zone the organization’s Industrial Policy Council announced late last year.

Wait, what’s the EAEU? Think “pals of Russia.” Members include Russia, Belarus, Kazakhstan, Kyrgyzstan and Armenia — with Mongolia, Syria, Tajikistan and Uzbekistan all having said at one time or another they’d like to join. EAEU has trade agreements with Vietnam, Iran, China, Serbia and Singapore.

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