The proposed free trade agreement (FTA) with the Eurasian Economic Union (EAEU) has the potential to raise the existing bilateral trade from US$ 8 billion to the range of US$ 37 to 62 billion, Joint Secretary (Foreign Trade-CIS) in the Ministry of Commerce and Industry Sunil Kumar said.
Speaking at the stakeholders consultation jointly organised by the Department of Commerce of the Ministry of Commerce and Industry, Department of Industries, Commerce and Export Promotion and the Government of Telangana here on Tuesday, he stated that the objective of the consultation was to have prior inputs from the Indian businesses in the States who could find export and import opportunities in the five Eurasian Economic Union countries — Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.