EEU, Chile discuss establishment of free trade zone

ASTANA. KAZINFORM The Eurasian Economic Union countries and the Republic of Chile are discussing the opportunities of establishment of a free trade zone. According to Minister for Integration and Macroeconomics of the Eurasian Economic Commission Tatyana Valovaya, all the economic consequences of this step must be estimated at the current stage, BELTA reported.

"Prior to establishing a free trade zone, we need to estimate all the economic consequences of this step. The sides are not ready now to asses these consequences. A serious work must be conducted in this issue. Today our colleagues meet with Chilean side to exchange experience and define how we will move in this direction," said Valovaya following a meeting of the Joint Commission for Interaction of the EEC and Chilean Government.

She added that the scheme of establishment of the free trade economic zone has been raised by the Chilean side several times and many Russian exporters are interested in it. "It is a very responsible decision which is always adopted by the all five countries and all conditions must be provided for such a decision," she stressed. The next meeting of the Joint Commission will take place in 2017 in Chile during which the businessmen of the EEU countries will present their potential, Valovaya added.

In turn, Deputy FM for Trade of the Republic of ChileAndrés Rebolledo emphasized that his country actively develops agriculture due to which the Government of the Republic of Chile is interested in enhancing import of fertilizers, technologies, machine-building goods and cars from the EEU countries.