India, Russia-Led EAEU Push Ahead on Free Trade Agreement
What Happened
Russian First Deputy Prime Minister Denis Manturov said negotiations for a Free Trade Agreement (FTA) between India and the Russia-led Eurasian Economic Union (EAEU) have reached an advanced stage. He described the agreement as a potential driver of long-term trade growth and stressed the need to maintain the pace of negotiations. The EAEU includes Russia, Kazakhstan, Belarus, Armenia and Kyrgyzstan.
Key Takeaways
A successful FTA could significantly expand India’s access to Eurasia’s energy, critical mineral and rare-earth resources while supporting the India-Russia goal of increasing bilateral trade to $100 billion by 2030.