Egypt Reaches Free Trade Agreement With Eurasian Economic Union

CAIRO (Sputnik) — Egypt has reached a free trade zone agreement with the Russian-led Eurasian Economic Union (EEU), Egyptian President Abdel Fattah Sisi said Tuesday at a joint press conference with Russian President Vladimir Putin.

There was more than $4.5 billion of trade between Russia and Egypt in 2014, a more than 80 percent increase on the year before, said President Putin. Free trade agreement means that the markets of Russia, Belarus, Kazakhstan, and Armenia will be more easily accessible for Egyptian products and vice versa.