The Eurasian Economic Commission (EEC) isfinalizingnegotiations to set up a free trade zone between the Eurasian Economic Union (EAEU) and Singapore, officials announced this month. The EAEU is a free trade area that includes Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan. The countries represent a market of some 183 million people and a combined GDP (PPP) of about $5 trillion. Veronika Nikishina, the EEC’s trade minister, explained that the free trade zone with Singapore will not only apply to goods but also to services and investment. “As a result, we will have a package of seven different agreements. We are set to sign the first of seven. Read more...
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