On Saturday, the director of the Department of Economic Cooperation at the Russian Foreign Ministry, Dmitry Birichevsky, told Sputnik that a draft free trade agreement between the EAEU and Egypt was almost completed.
"The signing of a free trade agreement between Egypt and the EAEU will facilitate the access of our goods to the Egyptian market. Negotiations on the free trade zone are at the final stage," Tevanyan said.
Russian engineering products are respected in Egypt because of their price-quality ratio advantage, Tevanyan added.
"Egyptians have purchased a large batch of our passenger cars and are well acquainted with Lada cars, which have long been assembled at local facilities," Tevanyan said.
The contract to supply the Egyptian National Railways with 1,350 passenger cars worth more than 1 billion euros ($1.1 billion) was signed in 2018. Production was carried out in Russia and Hungary.
The Eurasian Economic Union includes Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia. The EAEU currently has free trade agreements with Vietnam and Serbia. The bloc also has an agreement on trade and economic cooperation with China. On Monday, EAEU member states signed a full-fledged free trade agreement with Iran.