Free trade zone between the Eurasian Economic Union member countries and India could be launched in 2020

During the bilateral talks between Prime Minister of India Narendra Modi and President of Russia Vladimir Putin, held on December 23-24, 2015, a conclusion of a Free Trade Agreement between the Eurasian Economic Union member countries and India was discussed. Vladimir Putin and Narendra Modi welcomed a successful launch of the Joint Research Group on possibilities to conclude such agreement.
According to First Deputy Minister of Economic Development of the Russian Federation Alexey Likhachev projections, a free trade zone between EAEU and India could be launched in 2020.
As Vladimir Putin emphasized during the talks, “The launch of the Eurasian Economic Union offers new opportunities for expanding business ties. Indian companies can operate on this market with millions of consumers using common, more liberal terms”.