EEU and India negotiate free trade agreement
15.01.2020,
12:13
Against the background of the increasingly aggressive use of financial sanctions by the U.S. Administration, Russia continues its policy aimed at gradual de-dollarization of the economy, Russian Foreign Minister Sergey Lavrov said in an interview with The Times of India newspaper ahead of his New Delhi talks.
YEREVAN, January 15. /ARKA/. Against the background of the increasingly aggressive use of financial sanctions by the U.S. Administration, Russia continues its policy aimed at gradual de-dollarization of the economy, Russian Foreign Minister Sergey Lavrov said in an interview with The Times of India newspaper ahead of his New Delhi talks.
He said together with its main partners, including India, Russia works on developing economic and legal mechanisms to reduce the negative impact of restrictions on bilateral trade and investment ties.
'Expanding settlements in national currencies is one of our priorities. Relevant intergovernmental agreements on settlements and payments were concluded with China and Turkey last June and October. Within BRICS, agreements were reached on the mutual opening by the Central Banks of relevant correspondent accounts. We consider that de-pegging from the dollar in mutual settlements is an objective response to the unpredictability of the U.S. economic policy and the outright abuse by Washington of the dollar's status as a world reserve currency.,' Lavrov said.
He said currently, New Delhi and Moscow were e vigorously working to prepare a new intergovernmental agreement on the mutual protection of investments, which will by far increase investor protection for both sides. The agreement on a free trade zone between the Eurasian Economic Union (EEU) and India which is currently being negotiated should also contribute to this.
The EEU has already signed free trade agreements with Vietnam, Singapore, as well as Serbia. It also has signed an interim agreement with Iran, which should lead to the formation of a free trade zone.
Negotiations are also underway with Egypt, Israel and Argentina. Also, Jordan and Thailand expressed desire to have free trade zones with the Eurasian Economic Union. In total, the EEU has received 50 partnership proposals from various countries and associations. -0-
He said together with its main partners, including India, Russia works on developing economic and legal mechanisms to reduce the negative impact of restrictions on bilateral trade and investment ties.
'Expanding settlements in national currencies is one of our priorities. Relevant intergovernmental agreements on settlements and payments were concluded with China and Turkey last June and October. Within BRICS, agreements were reached on the mutual opening by the Central Banks of relevant correspondent accounts. We consider that de-pegging from the dollar in mutual settlements is an objective response to the unpredictability of the U.S. economic policy and the outright abuse by Washington of the dollar's status as a world reserve currency.,' Lavrov said.
He said currently, New Delhi and Moscow were e vigorously working to prepare a new intergovernmental agreement on the mutual protection of investments, which will by far increase investor protection for both sides. The agreement on a free trade zone between the Eurasian Economic Union (EEU) and India which is currently being negotiated should also contribute to this.
The EEU has already signed free trade agreements with Vietnam, Singapore, as well as Serbia. It also has signed an interim agreement with Iran, which should lead to the formation of a free trade zone.
Negotiations are also underway with Egypt, Israel and Argentina. Also, Jordan and Thailand expressed desire to have free trade zones with the Eurasian Economic Union. In total, the EEU has received 50 partnership proposals from various countries and associations. -0-
