EEU, Egyptian experts working on free trade deal
MOSCOW. Aug 6 (Interfax) - The creation of a free trade zone between the Eurasian Economic Union (EEU) and Egypt would provide good opportunities for the development of trade and investment relations between these countries, Russian Prime Minister Dmitry Medvedev said.
"A free trade zone between the Eurasian Economic Union and Egypt would also provide good opportunities for the development of trade and investment. Our experts are currently exploring the possibility of signing an agreement," Medvedev said in an interview with Egyptian newspaper Al-Ahram on the eve of his visit to Egypt.
Speaking about economic relations between Russia and Egypt, he noted that bilateral trade nearly doubled in 2014 to $5.5 billion, with Russian exports doubling to $4.9 billion and imports growing by almost a quarter.
The growth prospects for bilateral trade depend on both sides, the prime minister said.
He said Egyptian agricultural products, such as potatoes and citrus fruit, are well known in Russia and there is strong demand for them. "But I'm sure that our countries are equally interested in supplying other products as well. There is excellent potential to increase the supply of agricultural and road-building equipment, rolling stock and various components," Medvedev said.
He said the common goal of the Russian and Egyptian authorities is to create the most comfortable environment for businesses, allowing them to fully utilize these opportunities.
"I think that the business community and representatives of the regions should be more actively involved in this process. I hope that Egypt shares this view," Medvedev said.
