On October 25, the Eurasian Economic Union (EAEU) and Serbia signed the Agreement on the establishment of a Free Trade Zone. On October 1, the EAEU concluded free trade agreement with Singapore.

Under the agreement, Serbia will be able to export almost 100% of its products without paying customs duties. At the same time, the duty on the export of cars from Serbia remains.

“For Belgrade, the implementation of the document will mark a completely new stage of presence in Eurasia, entering a market with a capacity of over 182 million consumers and total GDP of more than 1.9 trillion USD”, representatives of Serbia said.

Earlier, the EAEU concluded free trade agreements with Vietnam and Iran. At the final stage is a discussion with Egypt.

EAEU member states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia.