The Customs Union (CU) and Israel have formed a joint research group to study the prospects for the establishment of a free trade zone between them, the Eurasian Economic Commission informed.  

Experts from the commission, CU, and the Israeli ministries and departments are included in the joint team.  

The research team is tasked with analyzing the prospects for setting up a free trade zone between the CU member countries and Israel.

The experts will present a special report and provide recommendations, based upon which a decision can be made to starting talks on a free economic zone between the CU member countries and Israel, reported ITAR-TASS news agency of Russia.     

To note, following the talks that were held on September 3, 2013 in Moscow between Armenian and Russian Presidents Serzh Sargsyan and Vladimir Putin, Sargsyan had announced that Armenia plans to join the Customs Union and subsequently engage in the formation of the Eurasian Economic Union. In December 2013, the “road map” for Armenia’s accession to the Customs Union was adopted. And in January of this year, the Government of Armenia approved the action plan for the implementation of this “road map.” And the formal joining is expected in May. Aside from Russia, Belarus and Kazakhstan likewise are members in the Customs Union.