Total GDP growth of the EEA countries could reach $2.7 billion
Baku, Azerbaijan, August 28
By Kamila Aliyeva – Trend:
Prospects for the strategic partnership of the Eurasian Economic Union (EEA) and India was the main topic of the discussion at the seminar ‘EEA - India: on the way to the FTA’ held in Astana, according to the information published on the official website of the Eurasian Economic Commission.
The event was attended by the Minister of the Moscow City Government Sergei Cheremin, Deputy Chairman of the Kazakh-Indian Business Council Azhmat Alimov, Indian Deputy Secretary of the Department of Foreign Trade Sunil Ranjan, Chairman of the Agricultural and Processed Food Products Export Development Authority (APEDA) as well as representatives of government and business circles.
An analysis of the feasibility of the free trade agreement showed that the total GDP growth of the EEA countries could reach $1.4 billion in the short term and $2.7 billion in the long term.
The seminar addressed the issues of trade regulation, unification of administrative procedures, removal of trade barriers, support of commodity and investment flows, technological and production cooperation, existing problems of trade operators and others.
Following the discussion, representatives of the Indian and Eurasian business indicated their wishes for the contents of the future agreement.
Leaders of the states of the Union and India at the end of last year decided to launch negotiations on agreement on a free trade zone.
A joint statement on the beginning of negotiations on the agreement was signed in June this year on the sidelines of the St. Petersburg International Economic Forum. This marked the beginning of a new stage in the relationship between the EEA and India.