ArmInfo.Armenia gives the go-ahead for the ratification of the EAEU-UAE Economic Partnership Agreement. The RA NA Standing Committee on Regional and Eurasian Integration has approved the document submitted by the Armenian government at its March 20 meeting.
Deputy Minister of Economy Narek Hovakimyan noted in his speech that the agreement was signed on June 27, 2025, in Minsk. The document envisages the creation of a free trade zone. Essentially, it eliminates duties on 86% of goods for the EAEU and 98% for the UAE, significantly reducing customs duties from 6% to 2.6%. Tariffs will also be reduced from 5% to 0.6% for key sectors: agriculture, metallurgy, chemicals, and electrical equipment. The tariff reduction is expected to result in savings of approximately $260 million per year, and trade turnover between the EAEU and the UAE could exceed $20 billion.
