UAE and Eurasian Union Agree on Customs Duties
The economic partnership agreement between the United Arab Emirates and the Eurasian Economic Union, which includes Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia, has officially come into effect. The agreement aims to reduce or eliminate customs duties on 86% of commercial goods, thereby boosting the movement of goods, facilitating trade procedures, and supporting the participation of small and medium-sized enterprises. In 2025, non-oil trade between the two sides increased by 16% to reach $33.6 billion, with expectations to grow to $50 billion by 2032 to strengthen trade cooperation and expand markets, especially in manufacturing, logistics, and agriculture sectors.
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تنويه: هذا ملخص تم إنشاؤه بواسطة الذكاء الاصطناعي
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