In an attempt to broker an end to the Ukraine crisis, German Chancellor Angela Merkel has said that the European Union would be open to talks towards the launch of free trade negotiations with the new Eurasian Economic Union.

Merkel said at the World Economic Forum in Davos that the possibility of launching talks had been discussed at EU level.

Meanwhile, the nation's Economy Minister, Sigmar Gabriel, said that the EU is keen to offer Russia a way out. "The next step is a free trade zone," he said, talks on which could begin as soon as Russia resolves the Ukraine crisis.

Gabriel encouraged EU member states to consider what could be included in a potential trade deal with the Eurasian Economic Union, comprising Russia, Belarus, Kazakhstan, and Armenia. Kyrgyzstan will officially join the bloc from May

Source: Tax News

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