India and Eurasian Economic Union sign ToR to launch FTA negotiations

India and the Eurasian Economic Union (EAEU) comprising Armenia, Belarus, Kazakhstan, Kyrgyz Republic and the Russian Federation signed the Terms of Reference (ToR) to launch negotiations on a Free Trade Agreement (FTA) in Moscow. The ToR provides the framework for negotiations and is expected to unlock untapped trade potential, increase investments and establish a stronger, durable India–EAEU economic partnership. The Terms of Reference (ToR) was signed by Additional Secretary, Department of Commerce, Government of India Ajay Bhadoo, and Deputy Director, Trade Policy Department, Eurasian Economic Commission (EEC) Mikhail Cherekaev.

India and Eurasian Economic Union sign ToR to launch FTA negotiations

India - Eurasian Economic Union sign ToR to launch FTA negotiations

India and the Eurasian Economic Union (EAEU) comprising Armenia, Belarus, Kazakhstan, Kyrgyz Republic and the Russian Federation signed the Terms of Reference (ToR) to launch negotiations on a Free Trade Agreement (FTA) in Moscow.

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The ToR provides the framework for negotiations and is expected to unlock untapped trade potential, increase investments and establish a stronger, durable India–EAEU economic partnership.

Both sides reaffirmed their commitment to the early conclusion of the agreement and to building a long-term institutional framework for trade cooperation.

India - Eurasian Economic Union ToR Signed By

The India and the Eurasian Economic Union (EAEU) Terms of Reference (ToR) was signed by Additional Secretary, Department of Commerce, Government of India Ajay Bhadoo, and Deputy Director, Trade Policy Department, Eurasian Economic Commission (EEC), Mr. Mikhail Cherekaev.

During his visit, Additional Secretary, Department of Commerce, Government of India Ajay Bhadoo also called on Minister in charge of Trade, EEC Andrei Slepnev.

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The heads of negotiation groups apprised the Minister about the milestone achieved with the signing of the India and Eurasian Economic Union ToR and discussed next steps to formally launch the negotiation process, including organizational aspects of the future trade deal.

India–EAEU Trade Turnover

Both sides noted the growing trade turnover between India and the Eurasian Economic Union (EAEU), which stood at USD 69 billion in 2024, registering a 7 percent increase over 2023.

With a combined gross domestic product (GDP) of USD 6.5 trillion, the proposed FTA is expected to expand market access for Indian exporters, support diversification into new sectors and geographies, enhance competitiveness against non-market economies, and deliver significant benefits to Micro, Small and Medium Enterprises (MSMEs).

About Eurasian Economic Union

The Eurasian Economic Union (EAEU) is an international organization for regional economic integration. The Member-States of the Eurasian Economic Union are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic and the Russian Federation.

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The EAEU provides for free movement of goods, services, capital and labor, pursues coordinated, harmonized and single policy in the sectors determined by the Treaty and international agreements within the Union.

Static Current Affairs related to Eurasian Economic Union for upcoming exams

• EAEU established: 1 January 2015
• Member states: Armenia, Belarus, Kazakhstan, Kyrgyzstan & Russia
• Observers states: Cuba, Iran, Moldova & Uzbekistan
• Chairman of EAEU (2025): Belarus Alexander Lukashenko
• Total Population 2025 estimate: 190,336,992
• Currency: Armenian dram, Belarusian ruble, Kazakhstani tenge, Kyrgyz som & Russian ruble