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BELGRADE (Serbia), October 28 (SeeNews) – Serbia's government said it has signed a free trade agreement with the Eurasian Economic Union (EAEU) on Friday.
The agreement will replace Serbia's existing bilateral agreements with Russia, Belarus and Kazakhstan and extend the free trade zone to Armenia and Kyrgyzstan, encompassing a market of about 185 million people, the government said in a statement.
Under the agreement, Serbia will be able to export duty-free 2,000 tonnes of cigarettes, approximately 90,000 litres of wine, 400 tonnes of semi-hard and hard cow's cheese, unlimited quantities of goat's and sheep's cheese and unlimited volumes of fruit brandy to the EAEU.
Serbia will not become a member of the EAEU by signing the agreement, since membership was not a topic in the negotiations that have been ongoing since 2016, the government said.
The EAEU is a political and economic union of several states in central and northern Eurasia that once were members of the former Soviet Union - Russia, Kazakhstan, Belarus, Armenia and Kyrgyzstan.