(VOVworld)- The Free trade zone (FTA) between the Eurasian Economic Union (EAEU) and the Association of the South-East Asian Nations (ASEAN) may take effect in the next three years.

Russian Minister of Economic Development Alexei Ulyukayev

The Russian Minister of Economic Development,  Alexei Ulyukayev told the ministers of economy and trade of Russia and ASEAN in Vientiane, Laos that he considered the agreements reached to be fundamentally important. He added that the EAEU and ASEAN would create a research group. Senior officials have already received the relevant instructions with the aim of achieving results as soon as possible. Ulyukayev added that the EAEU and ASEAN might need about three years to create a free trade zone.