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Egypt Is To Establish a Free Trade Zone with the Eurasian Economic Union

The Egyptian ambassador to Russia Mohamed Elbadri declared that Egypt is to establish a free trade zone with the Eurasian Economic Union (EEU) by the end of 2016, Sputnik News reports.

"There is a kick-off already in the negotiation process and we estimate that it is going to take from 12-18 months," told Sputnik.

The sides plan to discuss a free trade zone deal in February during Russian President Vladimir Putin’s visit to Cairo. Egypt sent an official request to establish a free trade zone with the EEU last year.

At the present stage  of negotiations, each party is to study the benefits of mutual cooperation before entering into direct, detailed talks on the agreement.

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