BAKU, Azerbaijan, June 22. The second round of negotiations on establishing a free trade agreement between the Eurasian Economic Union (EAEU) member states and the UAE was held in Russia's Moscow on June 20-22, Trend reports.
The Kazakh negotiating delegation included experts from the country's Ministry of Trade and Integration and the Ministry of Foreign Affairs.
The discussions focused on various aspects of the agreement, such as trade in goods, trade defense measures, rules of origin, customs cooperation, e-commerce, and more. Additionally, the negotiation round initiated talks on the tariff component of the future agreement to determine the scope of tariff liberalization for facilitating duty-free trade between the parties.
Meanwhile, bilateral trade between Kazakhstan and the UAE has been steadily growing, with the total trade turnover reaching $632.6 million in 2022. Kazakhstan's exports to the UAE accounted for $560 million, while imports from the UAE amounted to $72.3 million. The prospective agreement's mutual elimination of import duties is expected to enhance trade flows and further boost trade volumes between Kazakhstan and the UAE.