26 Jan 2018 13:23

India, EAEU to hold technical consultations to start Free Trade Area talks - Indian ambassador in Moscow

MOSCOW. Jan 26 (Interfax) - India and the Eurasian Economic Union (EAEU) are expected to hold technical consultations on creating a Free Trade Area at the end of January, Indian Ambassador to Russia Pankaj Saran said.

"We are very pleased that these negotiations will finally begin. It will happen at the end of this month. They're called technical consultations. It will be the first such talks and consultations between India and the EAEU. Their goal is to discuss the structure of further negotiations. Representatives of the two sides' technical services will attend," Saran said on the television channel Rossiya-24.

Above all, India "wants to conduct these talks in order to sign a free trade treaty," the diplomat said.

"That way, we will be able to increase trade from $37 billion to $62 billion," he said.

"India became a member of the SCO [Shanghai Cooperation Organization] last year, and if we combine these two aspects, we will see that our interaction with the region's countries has grown substantially," he said.