ASEAN Agrees To Look At FTA With EAEU

by Mary Swire, Tax-News.com, Hong Kong

24 May 2016

Following a meeting with Russia in Sochi on May 19-20, the member states of the Association of Southeast Asian Nations (ASEAN) have agreed to look at a free trade agreement with the Russian-led Eurasian Economic Union (EAEU).

In their statement following the meeting, it was noted that ASEAN and Russia had agreed to improve "regional economic cooperation aimed at promoting trade and investment," and to "endeavor to increase substantially the volume of trade" between them.

The statement said: "Russia put forward a proposal to launch a joint feasibility study of a comprehensive free trade area between ASEAN and EAEU. ASEAN will consider this initiative."

The EAEU comprises Armenia, Belarus, Kazakhstan, and Kyrgyzstan, and Russia.

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