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On October 1, 2019, an Agreement was signed in Armenia between Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, the Eurasian Economic Union and Singapore.

The purpose of the document is to create a favorable environment and conditions for the development of mutual trade relations and the economic cooperation between the sides in the fields of mutual interests, as well as to remove barriers between the sides in trade and investment, reduce business expenditures and increase economic efficiency.

The agreement sets out the intention of the sides to sign agreements on free trade in goods, investments and services in accordance with the rules and authorities established by the latter.

The draft law on Ratifying the Framework Agreement on Comprehensive Economic Cooperation between the Eurasian Economic Union and its Member States, on the one hand, and the Republic of Singapore, on the other hand was debated at the NA extraordinary sitting convened on May 3. The Minister of Economy Vahan Kerobyan presented it to the parliamentarians.

The NA deputy Babken Tunyan inquired from the Minister what specific directions are envisaged to be developed by the agreement, and what expectations Armenia has from it.

Vahan Kerobyan underlined that Armenia is more interested in investments. “Singapore is a major financial center, and the cooperation between the investment funds in Singapore and the Government of Armenia is discussed,” the Minister noted.

The draft ratifying the readmission agreement between the Government of Armenia and the Government of Belarus was also debated at the NA sitting.

The document will allow to take coordinated measures in the organization of identification and return of own illegal citizens, as well as the citizens of the third countries and stateless persons in the territories of the two countries.

The agreement defines the competent bodies of the sides, the border crossing points, the list of the document, the procedure for submitting a readmission application, the form, the terms, etc.

The draft law on Ratifying the Protocol between the Republic of Armenia and the Republic of Lithuania on the Implementation of the Agreement between the Republic of Armenia and the European Union on Readmission of Persons Residing without Authorization was also debated at the NA regular sitting.