India To Sign Free Trade Deal With Eurasian Economic Union - Commerce Minister

India will soon sign a free trade deal with the Eurasian Economic Union, a post-Soviet political and trade bloc, the Indian commerce minister announced Friday.

NEW DELHI (UrduPoint News / Sputnik - 05th October, 2018) India will soon sign a free trade deal with the Eurasian Economic Union, a post-Soviet political and trade bloc, the Indian commerce minister announced Friday.

"[The] signing of a Free Trade Agreement (FTA) with Eurasian Economic Union (EaEU), soon, will create a huge market which will benefit all the countries of the region and also promote inter-regional partnerships between the states of India and the regions of Russia," Suresh Prabhu said in a statement.

The minister also promised to create a mechanism that would streamline Russian business involvement in India, in addition to a "Russia Desk" that aims to fast-track investment.

Russian President Vladimir Putin is in New Delhi together with a business delegation for the Russian-Indian Business Forum. Russia has been promoting the economic union of Eurasian nations, which also includes Armenia, Belarus, Kazakhstan, and Kyrgyzstan. Vietnam has a free trade arrangement with it.