ASTANA, June 30. /TASS/. The agreement between the Eurasian Economic Union (EAEU) and the United Arab Emirates (UAE), which was signed on June 27 at a summit in Minsk, will abolish import duties on 85% of goods traded between EAEU member states, including Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Abu Dhabi, the Ministry of Trade and Integration of the Republic of Kazakhstan reported.
“The abolition of import customs duties will be carried out gradually over various transition periods in order to gradually liberalize mutual trade,” the report said.
The agreement with Mongolia stipulates “a preferential trade regime on 367 commodity items of key export interest to each party,” according to the ministry.” The agreement is temporary, having been concluded for three years with the possibility of extension for another three years if the parties reach corresponding agreements.
“The agreements with the United Arab Emirates and Mongolia will take force after ratification by all parties,” the ministry said.
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