Free trade agreement ratified: Serbia finally joins Putin's union

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The upper house of the Russian parliament has ratified the free trade agreement between the Eurasian Economic Union (EAEU) and the Republic of Serbia.

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The agreement signed in Moscow on October 25, 2019 defines the main rules in trade between the EAEU member-states and Serbia in accordance with the standards of the World Trade Organization (WTO).

The document obligates signatories to liberalize mutual trade in accordance with the provisions of the agreement and WTO rules in order to establish a free trade regime between the EAEU and its member-states, on one hand, and the Republic of Serbia on the other.

Last summer, the Russian government approved the Draft Federal Law on Ratification of the Free Trade Agreement between the Eurasian Economic Union and its member-states and Serbia, and forwarded it to the State Duma for adoption.

(Telegraf Biznis/Tanjug)