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Singapore, EAEU sign free trade deal

A free trade agreement (FTA) between Singapore and the Eurasian Economic Union (EAEU) was signed by their leaders in Yerevan, capital of Armenia, on October 1.

Hanoi (VNA) – A free trade agreement(FTA) between Singapore and the Eurasian Economic Union (EAEU) was signed bytheir leaders in Yerevan, capital of Armenia, on October 1.

Talking to the media after the signing thatfollowed an EAEU summit in Yerevan, Singaporean Prime Minister Lee Hsien Loonghighlighted the FTA’s significance for his country to enter the potentialmarket of the Eurasian union and for the deal’s members to resist protectionism.

He also repeated concerns about the growth ofbarriers and obstacles to the free flow of goods, noting that free trade willcreate competition and promote technological development.

Kazakh President Kassym-Jomart Tokayev saidSingapore is the second country, after Vietnam, to sign an FTA with the EAEU,which is also working towards a similar trade pact with Iran.

The EAEU groups Russia, Belarus, Kazakhstan,Armenia and Kyrgyzstan. Vietnam inked an FTA with this bloc in May 2015./.

VNA
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