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Russia: regional trade agreements

The Russian Federation has entered into several regional and preferential trade agreements, including the Eurasian Economic Union (EAEU).

According to the World Trade Organization (WTO), the EAEU Treaty entered into force on January 1, 2015 between Russia, Kazakhstan and Belarus, to which Armenia joined in January 2015 and the Kyrgyz Republic in August 2015.

The EAEU Treaty establishes the free movement of goods between its members.

The Treaty contains the basic principles for the operation of the EAEU in areas such as tariff and customs regulations, foreign trade policy, sanitary and phytosanitary measures, and macroeconomic and foreign exchange policies.

In addition, it contains various elements related to cooperation and regulation of financial markets, services and investment, competition policy and natural monopolies, energy, transport, public procurement, intellectual property rights, political industry and agriculture, as well as the movement of labour.

The EAEU concludes with its member states other international agreements governing free trade in goods.

Member States have the right to unilaterally grant tariff preferences in trade with third countries within the framework of an international treaty concluded with the third country prior to January 1, 2015 or an international treaty concluded by all Member States.

Trade agreements

As a member of the EAEU, Russia is a party to the Free Trade Agreement (FTA) with Vietnam (which entered into force on October 5, 2016), the Interim Agreement for the Creation of a Free Trade Area between the EAEU and Iran (which entered into force on October 27, 2019), an FTA with Singapore (signed on October 1, 2019 and pending entry into force) and an FTA with Serbia (signed on October 25, 2019 and pending entry into force).

Until at least early 2022, Russia was negotiating free trade agreements with Egypt, India and Israel.

Joint feasibility studies with Mongolia and Indonesia started in 2020.

Russia is also a party to the Treaty on a Free Trade Area among the Members of the Commonwealth of Independent States (CIS).

In addition, it is a party to the Agreement on the Establishment of a Common Economic Zone between the Government of the Republic of Belarus, the Government of the Republic of Kazakhstan, the Government of the Russian Federation and the Cabinet of Ministers of Ukraine.

At the same time, Russia’s bilateral free trade agreements with Azerbaijan, Belarus, Kazakhstan, Georgia, Serbia, Turkmenistan and Uzbekistan are in force.

The Russian Federation is also holding bilateral negotiations on services and investment FTAs ​​with Singapore and the Republic of Korea.

 

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