Armenia ratifies agreement on economic cooperation between EEU and Singapore

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Economy

04.05.2022, 13:49

The Armenian parliament has ratified today a framework agreement on comprehensive economic cooperation between the Eurasian Economic Union (EEU) and its member states, on the one hand, and the Republic of Singapore, on the other.

Armenia ratifies agreement on economic cooperation between EEU and Singapore

YEREVAN, May 4. /ARKA/. The Armenian parliament has ratified today a framework agreement on comprehensive economic cooperation between the Eurasian Economic Union (EEU) and its member states, on the one hand, and the Republic of Singapore, on the other.

The ratification was endorsed by 70 lawmakers. The agreement between Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and the EEU and Singapore was signed on October 1, 2019 in Yerevan.

The document aims to create a favorable environment and conditions for the development of mutual trade relations and economic cooperation, as well as remove barriers between the parties in trade and investment, reduce business costs and improve economic efficiency.

The agreement stipulates the parties' intention to sign agreements on free trade in goods, investments and services.

"Singapore is a major financial center, and cooperation between Singapore investment funds and the Armenian government is being discussed," Armenian Economy Minister Vahan kerobyan said, presenting the agreement to lawmakers. -0-

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