MOSCOW, December 11. /TASS/. The Eurasian Economic Union (EAEU) and the United Arab Emirates (UAE) have completed negotiations to conclude an economic partnership agreement, the Eurasian Economic Commission (EEC) announced in a press release.

“Minister of Commerce of the Eurasian Economic Commission Andrei Slepnev and Minister of State for Foreign Trade of the UAE Thani bin Ahmed Al Zeyoudi declared the completion of negotiations on the conclusion of the Economic Partnership Agreement. agreement must go through internal state approval procedures before it can be authorized to be signed,” the EEC said.

The agreement will provide a significant boost to trade between the countries, which is already experiencing unprecedented growth even without it, and will establish a fundamental system for the development of cooperative ties, Slepnev noted.

The decision to start talks with the UAE was made by the Supreme Eurasian Economic Council in December 2022. Four rounds of negotiations took place in 2023 and 2024.

The preferential conditions will cover more than 90% of mutual trade and more than 85% of the commercial nomenclature once the agreement enters into force, the EEC added.