India plans to intensify talks with the Eurasian Economic Commission (EEC) to expedite the signing of a free trade agreement with the Eurasian Economic Union (EAEU), Indian Ambassador to Russia Vinay Kumar stated.
“Negotiations began in November, and the first round has already taken place. I’d say both sides have a clear understanding of their goals and the political will to achieve them. So we’re hoping for quick results,” Kumar said, as reported by Vestnik Kavkaza.
The ambassador noted that India’s main objective is to reduce trade imbalances with EAEU member states by increasing Indian exports.
The agreement would allow Russian businesses preferential access to a market of approximately 1.5 billion people. Russia is particularly interested in expanding its economic and trade ties with India to diversify its export portfolio.
The first round of negotiations was held in New Delhi on November 28.
