Armenia and the Eurasian Economic Union signed a free trade agreement with Singapore after the meeting of the Supreme Eurasian Economic Council in Yerevan on Tuesday, October 1.
The agreement was signed by the representatives of the EAEU-member countries and Singapore. Deputy Prime Minister Mher Grigoryan signed the deal for Armenia.
Several other states, including China, Iran, Vietnam and Cuba, are already enjoying free trade with the bloc. Meanwhile Israel, Egypt and India are also eyeing joining the free-trade zone with the EAEU as a total of more than 50 countries have expressed interest in cooperation with the bloc.
The EAEU, the international organization for regional economic integration, was established at the start of 2015 and now includes five member-states – Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan. The EAEU’s gross domestic product (GDP) exceeded $1.9 trillion as of the end of last year and has increased nearly one percent in the first three months of 2019.