EAEU Expected To Reach Intra-Bloc Tariff Agreements
The members of the Eurasian Economic Union (EAEU) – Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia – are expected to reach final agreements on tariffs at Friday’s meeting of the EAEU Intergovernmental Council in Kyrgyzstan. Russian Prime Minister Dmitri Medvedev, speaking earlier stated “Today, we will discuss pressing issues related to the Union’s activities, including supranational regulations. I hope that we will reach final agreements on the issue you have just mentioned, I mean, tariff distribution.” Medvedev said at a meeting between the heads of EAEU countries’ delegations and Kyrgyz President Sooronbay Jeenbekov.
The Russian prime minister highlighted the importance of issues concerning the development of digital economy and a common financial market. “We have achieved certain success indeed. Administrative barriers are coming down, though not as fast as we would like them to.” Medvedev noted.zero to billions of dollars per annum.
China also has an FTA with the EAEU however this is non specific at present, and does not cover any products, although this is also currently under negotiation. Other Asian nations such as Singapore, Thailand Iran and Turkey have also expressed interest in an FTA, as has Egypt. The bloc will be one to watch when both internal tariffs between existing members, and additional FTA are agreed.
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