In a recent development to further strengthen business ties between Israel and the Eurasian Economic Union (EAEU), a working group has concluded its study on the feasibility of establishing a free trade zone between the new economic union and Israel.

The group will give its recommendations over the summer, after which formal negotiations could launch. Its member states are Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.

“Economically, Israel sees it as a positive opportunity, for our economy and for the global liberal economy,” Deputy Chief of Mission at the Embassy of Israel in Kazakhstan Emil Ben Naftaly told The Astana Times on 28 April. “We are reviewing the conditions of course, to see if they [share] the same idea as we have but yes, we would look at it as a positive.”

“Russia is already an important trading partner of Israel, and of course the possibility of the EAEU affecting their current trade is one reason for considering a free trade agreement. We export to Russia and we could be exporting to [other EAEU countries],” Naftaly added.