EEU - Singapore agreement to be concluded in 2017

11:42, 25 November 2016

ASTANA. KAZINFORM - The Agreement of Free Trade Zone between the Eurasian Economic Union and Singapore is planned to be concluded in 2017. In the first half of 2018 it will be ratified. This has been informed by first Deputy Prime Minister of the Russian Federation Igor Shuvalov in the Russian-Singapore Intergovernmental Commission, RIA Novosti wrote.

"It is very important for us to conclude this agreement with Singapore which is a participant of the ASEAN, and the specialists who are engaged in international trade consider Singapore not just as a part which will have the trade and economic relations based on the agreement with the Eurasian Economic Union, but it will be wider relations with an ASEAN through Singapore ", he told.

According to Igor Shuvalov, during the Russia - ASEAN meeting in Sochi in May 2016 other countries which enter the ASEAN also suggested the Russian Federation to sign the free-trade agreement.

"We have instructions given by President of Russia that the agreement with Singapore is a priority. And I confirm that we have all opportunities to conclude the agreement till the end of 2017 in the first half of 2018 to use this time for ratification procedures", Shuvalov added.

Eurasian Economic Union Russia