Eurasian Economic Commission approves creation of research group to work out free trade agreement with Pakistan

MOSCOW. May 20 (Interfax) - The Council of the Eurasian Economic Commission (EEC) has approved an order on forming a joint research group to study the feasibility of concluding an agreement on creating a free trade zone (FTA) between the Eurasian Economic Union (EAEU) and Pakistan.

The group's composition from the union side will be formed from representatives of the EEC and candidates proposed by the EAEU countries, the commission's trade bloc said.

"Preliminary analysis shows that a potential transition to a preferential trade regime could create sustainable competitive advantages for us in the Pakistani market for a number of agricultural goods, metallurgical products, coal, pulp and paper, and chemical industry products. At the same time, it could help diversify trade flows, allowing the partner to increase exports of fresh fruit, vegetables, prepared food products and certain categories of industrial goods," EEC Trade Minister Andrei Slepnev was quoted as saying.

Earlier in April, Slepnev met with Pakistani Federal Commerce Minister Jam Kamal Khan, following which the parties agreed to initiate the formation of a research group to work on creating a free trade zone between the EAEU and Pakistan.