During the period from June 12 to 14 of this year took place the third round of negotiations on concluding an economic partnership agreement (free trade agreement) between the EAEU member states and the United Arab Emirates, press service of the Ministry of Trade and Integration reports.
During the negotiations, the parties continued to discuss the content of various chapters of the draft agreement, including issues of preferential trade, trade remedies, customs cooperation, e-commerce, etc.
One of the key topics of the round of negotiations was the discussion of the possibility of further tariff liberalization (mutual reduction of import customs duties) based on the results of the exchange of updated proposals of the parties for market access.
We have reached a key stage of negotiations, within which the provision of duty-free access to the main goods of export interest of the parties is being discussed. I am confident that a constructive approach and mutual willingness to show flexibility in relevant issues will allow us to reach mutually beneficial arrangements, which in turn will become drivers for the growth of our trade with the United Arab Emirates" - notes Vice Minister of Trade and Integration Zhanel Kushukova.
We remind that the decision to start negotiations was made during the meeting of the Heads of the EAEU member states on December 9, 2022.
For reference: trade turnover between Kazakhstan and the UAE for January-April 2024 amounted to 70.1 million US dollars, which is 63.4% higher than in the same period of the previous year (42.9 million US dollars).
In turn, exports from Kazakhstan to the UAE in January-April 2024 increased 2.4 times compared to the same period last year and amounted to $40.7 million. The main export goods of Kazakhstan were silver, hot-rolled flat products from non-alloy steel and nitrogen fertilizers.
Kazakhstan’s imports from the UAE for January-April 2024 amounted to $29.4 million, which is 12.4% higher than last year. The main import goods of Kazakhstan were liquid pumps, consoles, panels, tables for electrical equipment, and spark-ignition internal combustion engines.
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