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.