EAEU, UAE might finalize free trade agreements at BRICS summit in Oct - Eurasian Economic Commission

YEREVAN. Oct 1 (Interfax) - The members of the Eurasian Economic Union (EAEU) may conclude negotiations on setting a free trade zone by the BRICS summit set for October 22-24 in Kazan, Eurasian Economic Commission Trade Minister Andrei Slepnyov told Interfax.

"With the UAE, we are at the finalization stage, so to speak. There's every chance that we'll be able to do it quickly enough," Slepnyov said, adding that the agreements might well be finalized at the BRICS summit.

"I wouldn't rule that out. But we need to make a substantial leap for that, and this concerns not only the commission but also our member states, but this is realistic," he said.

Free trade talks between the EAEU and Indonesia are at the final stage, Slepnyov said. "As for Indonesia, we're close to the finish here, the part of the way we have yet to cover is slightly longer here [than in the talks with the UAE], although basic clauses of both treaties have already been agreed upon," he said.

In particular, the parties are continuing to discuss details regarding certain commodity items and prospects for slashing duties on them to zero as part of mutual trade, Slepnyov said. The conclusion of free trade agreements with the UAE and Indonesia will be discussed at the Eurasian Intergovernmental Council meeting in Yerevan on Tuesday.