Kazakhstan President Approves Law on Free Trade Deal Between EAEU and Singapore

Kazakhstan’s President Kassym-Jomart Tokayev has signed the Law ratifying the Framework Agreement on Comprehensive Economic Cooperation between the Eurasian Economic Union (EAEU) and its member states, and the Republic of Singapore, as well as the Agreement on Free Trade between the EAEU and Singapore.

The text of the Law is to be published in the press, The Caspian Post reports, citing Kazakh media.

It’s worth noting that since the Agreement comes into force, Singapore is to rescind all the existing tariffs on imports and will be obliged not to apply tariff and non-tariff trade restrictions

In turn, the EAEU is to provide tariff-free treatment to 40% of the whole range of goods under the agreement.

Earlier it was reported that the Senate had ratified the Kazakhstan-Singapore trade facilitation agreement.