India to sign Free Trade Agreement with Eurasian Union by year-end

The bilateral relations between India and Kazakhstan are going to strengthen further with India likely to become an active member of Eurasian Economic Union by this year-end.

CHENNAI: The bilateral relations between India and Kazakhstan are going to strengthen further with India likely to become an active member of Eurasian Economic Union by this year-end.

“The discussions for a Free Trade Agreement (FTA) with Eurasian region and India are in final stages. By the end of this year, hopefully, India will be ready to sign it. Kazakhstan is part of the Eurasian economic union - Kazakhstan, Russia, Belarus, Armenia and Kyrgyzstan. A special working group has been created and there are discussions,” Bulat Sarsenbayev, Ambassador of Kazakhstan in India, said on sidelines of a meeting with the Madras Chamber of Commerce and Industry (MCCI).

Bulat Sarsenbayev
Bulat Sarsenbayev

The Ambassador met Chief Secretary of Tamil Nadu P Rama Mohana Rao on Thursday and invited the State government to participate in the international exhibition “Expo 2017: Energy of the Future” scheduled to be held between June 10 and September 10 in Astana.

“Tamil Nadu is doing very well in renewable energy. So, I have invited the State to participate in the expo,” he said.

Meanwhile, Kazakhstan will soon be setting up its second hononary consulate in Chennai after Mumbai. All the paper work has been completed and the consulate is likely to be established by December. It will cater to the needs of South India. In all likelihood, an MCCI member has been chosen as the hononary counsel of Kazakhstan in South India. The name will be made official once the Ministry of External Affairs (MEA) gives its approval, sources said.

Sarsenbayev also revealed that Kazakh National Railway Company was in discussion with the Adani Group in Gujarat to build or a buy a terminal at Mundra to connect Bandarabas in Iran with Mundra, which will reduce freight movement time between both the countries.

“From Bandarabas, we have completed a railway project to Kazakhstan. The MoU was already signed last year, when Prime Minister Modi visited our country. Now they (companies) should finalise the agreement and take some real steps.”

On air connectivity, he said Kazakhstan was also planning to increase the flights frequecy to India.

“Currently we have seven flights a week between Delhi and Almaty. We have received permission from air authorities to increase this to 24 flights. This will include not only Air Astana, but airlines from India like Go Asia and Air India.”

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