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Ministry of economic development of the Russian Federation

Fourth round of negotiations with Egypt on free trade agreement may take place in Moscow in autumn


Andrey Slepnev, Member of the Board - Minister in charge of Trade of the Eurasian Economic Commission (EEC) held a meeting with Ihab Nasr, Ambassador Extraordinary and Plenipotentiary of Egypt to Russia. The parties have exchanged views on current agenda of economic relations and delved into the status of negotiations on a free trade agreement.

According to Andrey Slepnev, the parties have made significant progress in approving the draft agreement during the previous rounds. In particular, arrangements have been reached in the field of e-commerce, customs cooperation and simplification of procedures and technical barriers. Trade in goods as well as sanitary, phytosanitary and veterinary measures are in a high degree of coordination.

"We should make an ambitious agreement enabling the business community not only to increase mutual trade, but also to expand access to third markets, primarily the African countries' market. This applies to both regulations and tariffs," the Minister stressed.

And in the furtherance of this goal, Andrey Slepnev has suggested resuming the full-fledged negotiation process interrupted due to the pandemic. Earlier, the next round of negotiations was scheduled to be held in Moscow and a relevant arrangement was reached with Nevin Gamea, Minister of Trade and Industry of Egypt. In this regard, Ihab Nasr has noted that the air communication between Russia and Egypt is expected to be restored in the near future and promised to support in-person negotiations. It has been agreed that relevant invitation will be sent to the Egyptian party in the near future.​

Source: EEC

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