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Opinions & Interviews

1 Jun 2018

Setting up EAEU-India free trade zone viewed as powerful solution

Setting up EAEU-India free trade zone viewed as powerful solution

MINSK, 1 June (BelTA) – Setting up a free trade zone between the Eurasian Economic Union (EAEU) and India will be a powerful solution, Chairman of the Council of the Republic Mikhail Myasnikovich, who is in charge of Belarus’ cooperation with India, said as he met with Ambassador Extraordinary and Plenipotentiary of India to Belarus Sangeeta Bahadur, BelTA has learned.

According to the speaker, it was Belarus that initiated the development of a free trade zone between the EAEU and India. “I think that this global interesting project will be implemented within the agreed schedule. It will be a powerful solution,” he said.

During the meeting the parties discussed political, trade and economic relations between the two countries. Belarus, as noted by Mikhail Myasnikovich, is satisfied with the level of political contacts with India and will maintain and develop them. The speaker also spoke about the development of cooperation in pharmaceutics, science, and education. The successful participation of Belorusneft production association in the rehabilitation of oil fields in India was also noted.

Ways to attract additional Indian investment were also on the agenda of the meeting. The Belarusian side, according to Mikhail Myasnikovich, is looking forward to the active participation of Indian companies in the ambitious project which is being implemented by Bremino Group. “We will shortly adopt a serious regulatory act regarding the development of this company,” he informed. As it was reported, plans are in place to set up a special economic zone Bremino-Orsha, the second one in Belarus. The first one was established in the China-Belarus Industrial Park Great Stone. Bremino-Orsha will focus on cooperation with India.

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