MOSCOW: Russia’s State Duma (lower house of the parliament) has ratified the agreement on economic partnership between the Eurasian Economi...
MOSCOW: Russia’s State Duma (lower house of the parliament) has ratified the agreement on economic partnership between the Eurasian Economic Union (EAEU) and its member states with the United Arab Emirates (UAE). The document was signed in Minsk on June 27, 2025.
The agreement establishes preferential trade regimes for over 85% of goods. It defines the conditions for further development and deepening of trade and economic cooperation in areas of mutual interest, including customs cooperation, e-commerce, technical barriers to trade, sanitary and phytosanitary measures, intellectual property rights, and government procurement.
The agreement provides for the development of industry cooperation, including in areas such as manufacturing, transportation and logistics, competition policy, tourism, research and development, trade in environmentally friendly goods, information and communications technology, and several others. It regulates the application of anti-dumping, compensatory, and special protective measures to prevent serious damage to economic sectors due to a sharp increase in imports. It establishes a dispute resolution mechanism through the formation of independent arbitration panels, whose decisions are binding on the parties.
To ensure effective implementation and oversight of the agreement’s provisions, a joint committee consisting of representatives from each party is being established. The joint committee’s responsibilities include, among other things, reviewing and assessing the overall functioning of the agreement, preparing recommendations for amendments, resolving emerging issues through negotiations, establishing subcommittees and working groups, and making decisions by consensus.
-News Feed
COMMENTS