Kazakh parliament ratifies EAEU-Singapore free trade agreement

ASTANA. Dec 19 (Interfax) - The Kazakh Senate passed a bill ratifying the free trade agreement between the Eurasian Economic Union (EAEU) and Singapore at a plenary meeting on Thursday, an Interfax correspondent reported.

"The agreement is due to lay a foundation for broadening trade and economic cooperation between EAEU members and Singapore. The bill envisages facilitation of interstate trade, promotion of investments, and deeper integration," member of the Senate Committee on the Economic Policy, Innovative Development, and Entrepreneurship Alibek Nautiyev said.

Import duties on most products will be lifted gradually in mutual trade transactions, he said.

The agreement guarantees stable legal terms of access to the Singaporean market.

It was signed in Yerevan on October 1, 2019.

The bill is now submitted to the Kazakh president for signing.