MINSK, Dec 4 (BelTA/APP): Belarus is expanding opportunities to sell its goods to Mongolia and the United Arab Emirates. This pertains to draft laws that were ratified during a regular meeting of the third session of the House of Representatives of the National Assembly of Belarus of the eighth convocation on 3 December, BelTA has learned.
The head of state has set the task of boosting exports and strengthening efforts in both main markets and far-away countries. There is significant potential in this regard through joint, coordinated work within integration associations. A prime example is the two international agreements in the trade and economic sector considered by the Belarusian parliament today. As noted during the session, their ratification will help Belarus, as a member of the Eurasian Economic Union, to expand its opportunities for selling goods to Mongolia and the UAE.
Belarusian MPs were presented with two draft laws: on the ratification of the Interim Trade Agreement between the Eurasian Economic Union and its Member States, on the one hand, and Mongolia, on the other; and on the ratification of the Economic Partnership Agreement between the Eurasian Economic Union and its Member States, on the one hand, and the United Arab Emirates, on the other.
Regarding cooperation with Mongolia, Deputy Minister of Foreign Affairs Pavel Utyupin stated that the bill has been prepared to express Belarus’ consent to be bound by the Interim Trade Agreement and for its subsequent entry into force. According to the document, import customs duties in mutual trade will be reduced or eliminated for a limited range of goods.
According to the deputy minister, the Interim Trade Agreement with Mongolia is concluded for three years, and its term is subsequently extended for another three years unless the parties agree otherwise. Within one year after the initial three-year period, the parties will begin revising the international treaty to establish a full-fledged free trade zone between the EAEU and Mongolia.