Russia seeks to switch to national currencies for payments in EEU trade – Lavrov
MINSK, Jul 9 - PrimePress. Russia is actively introducing settlements in national currencies in trade with its Eurasian Economic Union (EEU) partners, Russian Foreign Minister Sergei Lavrov said after his meeting with Dr. Subrahmanyam Jaishankar, Minister of State for External Affairs of India on July 9, 2021.<br> <br> “We will take into account that mutual settlements in the EEU, both within this integration union and between the partners, with whom agreements have been reached to establish a free trade zone, are an important point, given the issues world markets are facing, and the policy towards the use of the dollar in the context of the sanctions. We are therefore looking to use national currencies in our trade with the EEU partners,” said Lavrov.<br> <br> According to the minister, Russia is interested in starting negotiations between India and the Eurasian Economic Commission (EEC) to establish a free trade zone. An ad hoc group has been appointed, and its first meeting is expected to be scheduled in the near future.<br> <br> “The members [of the ad hoc group] will fix a date of the first meeting as soon as the coronavirus situation makes it possible. Apparently, this kind of negotiations are uncomfortable if held online, so face-to-face meetings are needed. We are interested in expediting this process to the extent possible and reach an agreement, and so are our Indian friends,” Lavrov said.<br> <br> The EEU is an international economic integration association that has been functioning on the basis of the Customs Union and the Common Economic Space since January 1, 2015. Currently, it unites Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.<br> <br> The EEC is negotiating free economic zones with Egypt, Israel and India. A free trade zone agreement with Singapore was signed on October 1, 2020; with Serbia – on October 25. A FTZ with Vietnam has been established in October 2016. An interim agreement on a free trade zone with Iran was signed in May 2018. End<br> <br>
2021-07-09
Primepress
Russia seeks to switch to national currencies for payments in EEU trade – Lavrov
“We will take into account that mutual settlements in the EEU, both within this integration union and between the partners, with whom agreements have been reached to establish a free trade zone, are an important point, given the issues world markets are facing, and the policy towards the use of the dollar in the context of the sanctions. We are therefore looking to use national currencies in our trade with the EEU partners,” said Lavrov.
According to the minister, Russia is interested in starting negotiations between India and the Eurasian Economic Commission (EEC) to establish a free trade zone. An ad hoc group has been appointed, and its first meeting is expected to be scheduled in the near future.
“The members [of the ad hoc group] will fix a date of the first meeting as soon as the coronavirus situation makes it possible. Apparently, this kind of negotiations are uncomfortable if held online, so face-to-face meetings are needed. We are interested in expediting this process to the extent possible and reach an agreement, and so are our Indian friends,” Lavrov said.
The EEU is an international economic integration association that has been functioning on the basis of the Customs Union and the Common Economic Space since January 1, 2015. Currently, it unites Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.
The EEC is negotiating free economic zones with Egypt, Israel and India. A free trade zone agreement with Singapore was signed on October 1, 2020; with Serbia – on October 25. A FTZ with Vietnam has been established in October 2016. An interim agreement on a free trade zone with Iran was signed in May 2018. End