ASTANA – President Kassym-Jomart Tokayev ratified Kazakhstan’s law on the framework agreement for comprehensive economic cooperation and the Free Trade Agreement (FTA) between the Eurasian Economic Union (EAEU) and its member states, and Singapore, on Jan. 9, reported Akorda.
The law, now published in print, envisages that upon the agreement’s entry into force, Singapore will eliminate all tariffs on imported goods and refrain from implementing tariff or non-tariff trade restrictions.
The EAEU will offer a duty-free regime for 88% of goods, but initially, this will apply to only 40% of products. Singapore will abolish import duties on all goods from Kazakhstan and other EAEU countries from the moment the agreement comes into force.
