India expressed hope for the early establishment of a free trade area under the agreement with the EAEU

India hopes to soon begin preparing an agreement on the establishment of a free trade area (FTA) with the Eurasian Economic Union (EAEU), which will open up access to markets and strengthen economic ties. This was announced on August 21 by Indian Foreign Minister Subrahmanyam Jaishankar, answering a question from Izvestia correspondent Viktor Sineok.

"We have signed the principles on the creation of free trade zones between India and the Eurasian Economic Union. I hope that this FTA will be created soon. It's about market access," Jaishankar said.

According to him, the exchange of views between the states on political issues is useful, as it is important that Russia and India understand each other's interests. The Indian Foreign Minister noted that at the meeting with his Russian counterpart Sergey Lavrov, key practical issues of cooperation were discussed: trade, investment, and nuclear energy.

He also stressed that preparations are underway for the upcoming summit between Russian President Vladimir Putin and Indian Prime Minister Narendra Modi.

Delivery played: India has made a decision on Russian oil

Fuel purchases from the Russian Federation are an issue of energy security for 1.4 billion residents of the republic, the ambassador said.

Earlier in the day, Foreign Minister Sergey Lavrov said that Russia has a mutual interest with India in implementing joint projects for the extraction of hydrocarbons, including in the Russian Federation - in the Far East and the Arctic shelf.

Indian Ambassador to Russia Vinay Kumar announced on May 19 that during negotiations in July 2024, Indian Prime Minister Narendra Modi and Russian President Vladimir Putin set a goal to increase mutual trade turnover to $100 billion by 2030. According to Kumar, for this, it is necessary to resolve issues of market access, expand contacts between business circles and trading communities in industries capable of increasing exports and imports.

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