Egypt and the Eurasian Economic Union (EAEU) will continue negotiations on establishing a free trade zone agreement, according to Mikhail Agasandyan, Director of the First Department of CIS Countries at the Russian Foreign Ministry, in a statement to TASS.
"The negotiation process is not yet completed and requires continued meticulous expert work," stated Agasandyan.
The diplomat refrained from specifying concrete timelines for when the agreement might ultimately be concluded.
"Let's not speculate. The agreement will be concluded when the parties reach mutually acceptable solutions regarding the harmonization of product positions. When that will happen is difficult to say," added the agency's interlocutor.
This update follows a statement on September 17 by Roman Chekushov, State Secretary and Deputy Minister of Industry and Trade of Russia, who indicated that Russian companies would gain access to unique tax and tariff conditions within the industrial zone near the Suez Canal for a period of 49 years.
Alexander Kholodov
