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All news / Russia, Singapore starting consultations to create free trade zone

  • 20 Nov 2015, 09:09

Moscow and Singapore are starting consultations to create a free trade zone between the Eurasian Economic Union (EEU) and Singapore, First Deputy Prime Minister Igor Shuvalov told reporters on Tuesday.

"We agreed that, within in the competence of the Government of the Russian Federation on free trade areas we are, without delay, beginning consultations with the Government of the Republic of Singapore on a free trade zone. With regard to the competence of the EEU, Singapore will immediately send a request to the Eurasian Economic Commission to initiate consultations and the conclusion of such an agreement," he said after an intergovernmental commission meeting.

"We have a fairly advanced good [agreement] with Vietnam, this is our pilot agreement, and I think we can do this more quickly with Singapore," Shuvalov said.