YEREVAN. - The draft free trade agreement between Eurasian Economic Union (EAEU) and Vietnam was introduced in the Armenian parliament Thursday.

According to Armenian Deputy Minister of Economy, Garegin Melkonyan, the agreement provides for zeroing 88 percent of customs duties till 2025-27.

The duties will be immediately cancelled for 59 percent of the goods, whereas 29 percent will be exempted from them after the transitional period. The duties will remain for 12 percent of the goods in order to protect the domestic market of both sides, the most favored nation regime being applied to those goods.

Specifically, Vietnam wants to maintain the duties for sugar, vegetables and cigarettes.

The import from Vietnam to Armenian amounted to nearly $14.4 million in 2015, including mainly telephones, computers, as well as clothes and coffee. The export constituted $131,000, being mainly composed of brandy.