Russia operates 11 trade agreements with which it grants and obtains tariff advantages, according to the World Trade Organization (WTO).
First of all, the Eurasian Economic Union (EAEU) Treaty entered into force on January 1, 2015 between the Russian Federation, Kazakhstan and Belarus, which were joined by Armenia in January 2015 and the Kyrgyz Republic in August 2015. .
The EAEU Treaty establishes the free movement of goods between its members.
In addition, the Treaty contains the basic principles of the functioning of the EAEU in areas such as tariff and customs regulations, foreign trade policy, sanitary and phytosanitary measures, and macroeconomic and foreign exchange policies.
Tariffs under preferential trade agreements, 2021
Likewise, the UEEA contains various elements related to cooperation and the regulation of financial markets, services and investment, competition policy and natural monopolies, energy, transport, public procurement, intellectual property rights, industrial policy and agriculture, as well as the movement of labour.
Trade agreements
The EAEU concludes with its member states other international agreements governing free trade in goods.
Member States have the right to unilaterally grant tariff preferences in trade with third countries within the framework of an international treaty concluded with the third country prior to January 1, 2015 or an international treaty concluded by all Member States.
As a member of the EAEU, the Russian Federation is a party to the Free Trade Agreement (FTA) with the Socialist Republic of Vietnam (which entered into force on October 5, 2016 and was notified to the WTO on May 4, 2017), the Interim Agreement for the Creation of a Free Trade Area between the EAEU and the Islamic Republic of Iran (which entered into force on October 27, 2019 and was notified to the WTO on January 31, 2020, an FTA with Singapore (signed on October 1, 2019 and pending to enter into force) and an FTA with Serbia (signed on October 25, 2019 and pending to enter into force).
Russia is currently negotiating FTAs with Egypt, India and Israel.
Furthermore, in 2020, joint feasibility studies were launched with Mongolia and Indonesia.
The Russian Federation is also a party to the Treaty on a Free Trade Area among the Members of the Commonwealth of Independent States (CIS).
Finally, Russia is a party to the Agreement on the Establishment of a Common Economic Zone between the Government of the Republic of Belarus, the Government of the Republic of Kazakhstan, the Government of the Russian Federation and the Cabinet of Ministers of Ukraine. Bilateral FTAs with Azerbaijan, Belarus, Kazakhstan, Georgia, Serbia, Turkmenistan, and Uzbekistan are also in force.
