YEREVAN, APRIL 12, ARMENPRESS. The Armenian parliamentary standing committee on regional and Eurasian integration affairs approved the bill on ratifying the free trade agreement between the Eurasian Economic Union (EAEU) and Serbia.

Deputy minister of economy of Armenia Varos Simonyan introduced the bill at today’s session of the standing committee.

“The bill proposes to ratify the free trade agreement between the EAEU, its members and Serbia, which was signed in Moscow on October 25, 2019”, the deputy minister said.

The agreement contains tools for regulation of obligations aimed at ensuring the stability, predictability and transparency of the trade processes.

Armenia, as well as the other member states of the Eurasian Economic Union, will have an access to the Serbian market with privileged customs duties and tariff advantages. In order to improve the access to the EAEU market, additional export opportunities have been created for all member states of the Union at the expense of making some concessions to the Serbian side.

Editing and Translating by Aneta Harutyunyan