Armenia intends to ratify a free trade agreement between the Eurasian Union and Serbia, said Armenian Deputy Foreign Minister Shavarsh Kocharyan on Monday.

According to him, three Erusian Union member states - Russia, Belarus and Kazakhstan - are currently conducting free trade with Serbia based on bilateral agreements.

“It is necessary to analyze what each country has given over the past period, what Armenia received, whether it suffered losses or not. According to my information, so far we have not had any losses due to the operation of any international agreement," he said.

Serbia signed a free trade deal with the Eurasian Union on October 25 this year in Moscow. Then it was recorded that trade between Serbia and the Eurasian Union amounted to $3 billion 400 million. Now each of the Eurasian Union member states and Serbia must ratify the document.