Tel Aviv intends to clinch the deal on a free trade zone with the Russia-led Eurasian Economic Union (EEU) as soon as possible, says co-chair of the Russian-Israeli Trade Commission Zeev Elkin.
Russian President Vladimir Putin (L) welcomes Israeli Prime Minister Benjamin Netanyahu © Ivan Sekretarev

The negotiations between Israel and the EEU are being given the "highest priority," TASS quotes the minister as saying.

"We have asked the Russians to begin negotiations in early 2016 and conduct at least two rounds of talks next year…As a rule, at a normal pace, such an agreement can be signed within two years," said Elkin.

He said the final deal depends on the difficulty of issues faced during negotiations, but said Israel is actively working to kick off talks as soon as possible.

"We believe that it has great potential for the Israeli economy, and for the countries of the [EEU]. I believe there is no reason to delay this," said Elkin.

Israel will be able to increase trade with the five members of the Union by 6-8 percent; Russia will see an increase in investment and technology transfer.


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