We expect to record tangible results in 2021. In this regard, it is necessary to mention two facts, including the entry into force of the Free Trade Agreement signed between the Eurasian Economic Union and Singapore and the Agreement on Services, Trade and Investments signed between Armenia and Singapore. This is what Minister of Economy of Armenia Tigran Khachatryan said during today’s discussion on the draft of the 2021 State Budget held as part of the joint session of the Standing Committees on Financial-Credit and Budgetary Affairs and on Regional and Eurasian Integration of the National Assembly of Armenia.

According to the Free Trade Agreement signed between the Eurasian Economic Union and Singapore, Singapore has expressed the commitment to not apply customs duties for goods produced in the Eurasian Economic Union in the case of investments in the Free Economic Zone of Singapore.

The minister also informed that works for the signing of an agreement on the creation of a free trade zone with Egypt will actively continue in 2021.