India to Open FTA Talks With Russia-Led EAEU on Wednesday

The talks reflect a push to diversify export markets, with an emphasis on access for smaller producers.

Overview

Commerce Minister Piyush Goyal said formal negotiations with the five-nation EAEU will begin in New Delhi on Wednesday.
The Terms of Reference signed on August 20 set an 18-month negotiating roadmap focused on new market opportunities for MSMEs, farmers and fishermen.
The EAEU comprises Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan.
Officials signaled parallel trade tracks, including potential talks with the Southern African Customs Union, a second phase with Mercosur and soon-to-start virtual negotiations with Israel for an early-harvest pact.
Goyal cited recent gains in merchandise and services exports and pointed to a surge in seafood sales to the EU following approvals for 102 Indian marine establishments.