Negotiations Underway Between Russia & India Over EAEU Free Trade Agreement

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Moscow is interested in getting the negotiation process underway between India and the Eurasian Economic Union (EAEU) on the free trade zone, Russian Foreign Minister Sergey Lavrov said after talks with his Indian counterpart Subrahmanyam Jaishankar last week.

“We are interested in talks between India and the Eurasian Economic Commission on free trade zone establishment to start as soon as possible. An appropriate working group has been set up. We hope the date for the first meeting will be fixed soon,” Lavrov said.

“Current mechanisms of the intergovernmental commission will work out further measures to stimulate trade-economic and investment cooperation” in the sphere of bilateral economic ties between Moscow and New Delhi, the Minister said. “The good sign is that the trade turnover rose by almost 12% over the first four months. This trend should be fortified in all respects.” he noted.

We previously wrote about Russian exporters preparing for the Indian market in this article here: and how the International North-South Transportation Corridor (INSTC) will boost Russian-India multi-modal trade connectivity here.

The two parties also confirmed the need to sign an updated investment protection agreement before endorsing the trade-economic and investment cooperation program by 2030 and complete work on certain other documents “capable of really bringing interaction to a new level.” Lavrov said.

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Russia Briefing is written by Dezan Shira & Associates. The firm has 28 offices throughout Eurasia, including China, Russia, India, and the ASEAN nations, assisting foreign investors into the Eurasian region. Please contact Maria Kotova at russia@dezshira.com for Russian investment advisory or assistance with market intelligence, legal, tax and compliance issues throughout Asia.

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