India and the Russia-led Eurasian Economic Union (EAEU) are likely to hold the next round of negotiations for a proposed free trade agreement in June in Moscow, according to sources.
The two sides had signed the terms of reference for the agreement on August 20, 2025, setting out an 18-month roadmap aimed at expanding market access for Indian businesses, including MSMEs, farmers, and fishermen. The first round of talks took place in November 2025 in India.
"For next round of talks, Indian team may visit in June. Issues related to non-trade measures are likely to figure in that meeting," an official told PTI.
The EAEU comprises five member countries, Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan. The proposed pact gains significance as India looks to diversify its export destinations amid global economic uncertainties.
Russia remains India’s largest trading partner within the bloc, with bilateral trade reaching USD 68.72 billion in 2024–25. This includes exports of USD 4.88 billion and imports of USD 63.84 billion, driven largely by increased crude oil purchases.
Trade with other EAEU members stood at USD 315.18 million with Armenia, USD 106.69 million with Belarus, USD 349.48 million with Kazakhstan, and USD 56.78 million with Kyrgyzstan during the last fiscal year.
Separately, the official noted that a delegation from Oman is expected to visit India next month to discuss issues related to the implementation of the trade agreement signed between the two countries in December last year.
(With inputs from PTI)