EAEU products to be freed from customs fee in Singapore

The joint package of circle agreement on comprehensive economic cooperation between the EAEU and Singapore was developed in accordance with the EAEU Supreme Council’s decision.

The agreement envisages multi-sided development commitment of the sides aimed at promotion of trade of products and services, minister of economy Tigran Khachatryan said at the cabinet sitting today.

The contract registers the intention of the parties to establish free trade.

“The negotiations with Singapore passed in seven phases aimed at forming package of arrangements. The contract is aimed at creating beneficial conditions and favorable environment for the development of trade relations,” the minister said.

He stressed after the contract enters into force Singapore is committed not to apply customs fees for EAEU products.

The government approved the bill presented by Tigran Khachatryan.