Piyush Goyal meets EAEU trade chief to fast-track trade pact

New Delhi, Sep 11
Union Commerce and Industry Minister Piyush Goyal on Friday said he held discussions with Eurasian Economic Commission Trade Minister Andrey Slepnev on ways to fast-track negotiations for a proposed India-Eurasian Economic Union free trade agreement and expand market access.

"Discussed ways to fast-track the India–Eurasian Economic Union (EAEU) FTA negotiations, enhance bilateral trade, and expand market access," Goyal said in a post on X after meeting Slepnev.

The discussions focused on key sectors including pharmaceuticals, technology and automobiles, he added.

In addition, they also explored opportunities to deepen India-EAEU economic cooperation and strengthen bilateral trade ties, the minister said.

India and the EAEU which comprises Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia have been negotiating a free trade agreement aimed at expanding trade and market access.

Goyal's push to accelerate the EAEU FTA talks comes as India steps up efforts to widen its network of trade agreements and boost exports.

Earlier this month, Goyal said all 27 European Union member states support the India-EU FTA and want to complete the formalities to bring the pact into force at the earliest.

He had said the agreement was deftly negotiated to protect sensitive sectors on both sides and faced no dissent within India or the EU.

The India-EU agreement is expected to benefit labour-intensive sectors such as fisheries, textiles and footwear, while exports of chemicals and pharmaceutical products are also expected to increase once the pact takes effect.

The government has also highlighted the growing commercial importance of India's newer FTA partners, citing early gains in exports, increased issuance of preferential certificates of origin and a wider range of products being shipped to partner markets.

India's combined merchandise and services exports reached a record $863.1 billion in 2025-26, including merchandise exports of $441.8 billion, according to a government factsheet issued in August.