Kazakhstan Chamber of Commerce in the USA

KazCham


Kazakhstan joins EAEU Free Trade Agreement

Posted on March 15, 2016 by KazCham

Colibri Law Firm BI@colibrilaw.com

Kazakhstan has become the latest member of the Eurasian Economic Union (EAEU), having ratified the agreement between the EAEU member states and Vietnam on Wednesday.

This free trade agreement between Europe and Asia is similar to the North American Free Trade Agreement (NAFTA) and was reached last year on 29 May 2015. However, it has taken until now for the Kazakh government to ratify the agreement. The treaty allows for duty-free trade between the EAEU member countries, Vietnam, and now Kazakhstan.

The Kazakh Economy Ministry had previously outlined its priorities in implementing the trade agreement. Chief among its interests was the exportation of food products, including flour, grain, alcohol, dairy products and beef.

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