Eurasian Economic Union Chairman meets Modi

St. Petersburg: Chairman of the Eurasian Economic Union (EAEU) Tigran Sargasyan called on Prime Minister Narendra Modi here on Friday.

External Affairs Ministry spokesperson Gopal Baglay said on Twitter that following India’s decision to hold negotiations to have a free trade agreement (FTA) with the EAEU, Sargasyan, a former Prime Minister of Armenia, called on Modi.

In his address to the media here on Thursday following the annual India-Russia bilateral summit, Modi said negotiations for an FTA with the EAEU would further strengthen economic cooperation.

Having come into force on January 1, 2015, the EAEU comprises Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.

India’s move to have an FTA with the EAEU assumes significance as a similar agreement with the European Union has failed to fructify despite 16 rounds of negotiations.

Later on Friday, Modi will attend for the first time the St. Petersburg International Economic Forum, an annual business and economic event hosted by the Russian President.

The Indian Prime Minister arrived here on Wednesday on the third leg of his six-day, four-nation tour of Europe.

From Russia, he will leave for France later on Friday on the fourth and final leg of the tour. Prior to Russia, he visited Germany and Spain.