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The United Arab Emirates and the Eurasian Economic Union plan to sign an agreement in the coming months providing for the creation of a free trade zone. The decision to begin negotiations on a free trade zone with the UAE was made by the Supreme Eurasian Economic Council in December 2022, and several rounds of negotiations have taken place since then.

It is expected that after the agreement comes into force, the preferential regime will cover more than 90% of mutual trade and more than 85% of the product range. The document will regulate issues of tariff liberalization, customs and industry cooperation, e-commerce and intellectual property, and trade protection measures. The creation of a free trade zone will give an additional impetus to the expansion of mutual trade turnover and create a systemic basis for the development of cooperative ties.

The EAEU is an international integration economic association, the participants of which are Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan. Observer status has been granted to Iran, Cuba, Moldova and Uzbekistan. The free trade agreement with the UAE has been fully agreed upon by all EAEU member states, where the relevant internal procedures are underway. In 2025, it is also planned to sign a free trade agreement between the EAEU and Indonesia.

ORIENT

Photo: unex.ru