ArmInfo.At the May 11 sitting, the Armenian parliament ratified the agreement with Singapore on the freedom of goods, services and investments.
Presenting the document, RA Deputy Minister of Economy Varos Simonyan noted that after ratification of the agreement, Armenia will be able to take advantage of privileges so far only in terms of services. "The agreement on goods, services and investments between Armenia and Singapore is part of a large agreement signed between the EAEU and Singapore on October 1 in Yerevan. Therefore, for some product groups, including export at zero customs duty, Armenia will switch only after ratification of the agreement by all EAEU countries, "the deputy minister explained.
After ratification of the agreement, which will positively affect the freedom of services between countries, the creation of favorable conditions for business, the law will enter into force on the first day of the second month after adoption, after which the business entities providing and receiving services will be able to take advantage of all the benefits provided for in the document. Meanwhile, Varos Simonyan noted that since October 17, no information has been received on ratification of the agreement by Singapore.
It should be noted that among the EAEU countries, Armenia is the first and so far the only state to sign a bilateral agreement on freedom of goods, services and investments with Singapore.
