Russian deputy PM sees EAEU FTA deals ratification with Indonesia, UAE in 2026

ST. PETERSBURG, June 5. /TASS/. The ratification of the agreements on free trade zones (FTZs) of the Eurasian Economic Union (EAEU) with Indonesia and the UAE are scheduled to be completed in 2026, Russian Deputy Prime Minister Alexey Overchuk said in an interview with TASS on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

When asked about the EAEU's plans to ratify agreements with countries such as Indonesia, the United Arab Emirates, and Mongolia, the Russian deputy prime minister pointed out that ratification with the latter "has already taken place, and the agreement enters into force on July 22."

"The United Arab Emirates is also actually on the way: procedures are being completed in some countries. The FTA with Indonesia was signed a little later, so there is a certain time lag," Overchuk explained. "I think the ratification procedures will be completed this year."

"Of course, we will also consider this issue, but today, let's just say, it is not at the top of this list," Overchuk said. "There are countries that are geographically close to us. This is primarily India and Pakistan, with whom we are already negotiating today. And this also takes up our negotiating resources, of all five countries, which are objectively limited."

The St. Petersburg International Economic Forum (SPIEF) is taking place from 3 to 6 June. The main theme is "Pragmatic Dialogue: the Path to a Stable Future.” " The forum's program is devoted to the formation of a new model of global development in the context of the transformation of the global economy. The forum is organized by the Roscongress Foundation. The general information partner is TASS.