Euro-Asian Economic Union (EAEU) expected its last five member states to ratify the free-trade agreement with Serbia by the end of the year, Iya Maklina, an aide to the Chairman of the Board of the Eurasian Economic Commission, said, as quoted on Thursday.
“So far, only Belarus and Russiahave completed the ratification procedures,” Iya Malkina noted. “Armenia, Kazakhstan, and Kyrgyzstan are still working on it. We expect this process to be finished by the end of the year," she said.
The agreement will come into effect 60 days after we receive the last written notification about the completion of internal procedures in Serbia and the EAEU member states,” she added.
The signatory countries committed themselves to the liberalisation of mutual trade and promised the goods from Serbia would have an equal accesses to the entire market.
Serbia’s Prime Minister Ana Brnabic signed the free-trade agreement with her counterparts from Russia, Belorus, Armenia, Kazakhstan, and Kyrgyzstan on October 25, 2019.