The Mazhilis, the Lower House of the Kazakh
Parliament, has ratified the free trade agreements between the Eurasian
Economic Union (EAEU) and Iran, as well as Singapore. This will facilitate the
entry of domestic products into foreign markets and increase export volumes.
Overall, trade turnover with these countries is growing. In particular,
Kazakhstan’s trade with Singapore amounted to $1.8 billion last year. It is
expected that after the agreement comes into effect, the city-state will
abolish customs duties on all goods imported from Kazakhstan, as well as from
other countries of the economic union. The second agreement also provides for the
establishment of favorable trade conditions with Iran.
«Currently, between our countries, a
preferential trade regime applies to a limited list of goods. The new agreement
provides for duty-free trade on nearly 90 percent of the product range. Under
this agreement, Iran undertakes to apply zero duties on most goods and not to
impose trade restrictions,» noted Kazakh Vice Minister of Trade and Integration
Kairat Torebayev.
Related Articles
