In 2010, Russia established a customs union with Kazakhstan and Belarus. This customs union became the Eurasian Economic Union (EAEU) in 2015. Armenia and Kyrgyzstan joined the EAEU the same year. The EAEU has legal jurisdiction in many trade-related policy areas, such as customs, competition, trade defence and industrial products regulation, intellectual property rights and foreign trade policy. The agreement takes due account of the experience gained in working on documents already signed and also covers potential business risks. During the negotiations, special attention was paid to products sensitive to the EAEU market. The agreement with Singapore was the third document of its kind signed by the Eurasian Union with third countries. The agreement goes beyond the scope of a purely commercial agreement. In addition, promising areas will be defined for the development of cooperation, such as agriculture, energy, transport, industrial cooperation, information and communication infrastructure, technology and innovation, finance and the environment. Armenian leaders saw the construction of a third high-voltage line between Iran and Armenia, as well as the north-south highway, the Meghri hydroelectric power plant and the Meghri Free Economic Zone as the main incentives for trade relations between Armenia and Iran.

But these projects have stopped in recent years for internal economic and political reasons. The agreement on trade and economic cooperation between the Eurasian Economic Union and the People`s Republic of China was signed on 17 May 2018 and will enter into force at the end of October 2019. It is not a free trade agreement, but it does define a uniform format of trade cooperation between the EAEU and China. The agreement covers a wide range of issues, including simplified trade procedures (for example. (b) the availability of electronic customs declarations, goods present as soon as possible), reflecting changes in the new EAEU customs code: improving transparency and working towards mutual recognition of standards, technical rules and compliance assessment procedures; Regulation of e-commerce Public procurement cooperation. In 2008, the EU and Russia began negotiations for a new agreement to establish a comprehensive framework for bilateral trade and investment relations. In March 2014, the European Council suspended negotiations due to the situation in Ukraine. This is one of the results of the eurasian Union`s painstaking work in signing free trade agreements with the countries concerned. Such agreements strengthen EAEU`s positions in the regional and global economy and promote market expansion for economies. However, the signing of such documents is not the objective of the EAEU as such.

The fact is that they offer mutual benefits. The eurasian Commission`s gradual experience allows it to clarify the interests of its Member States and to neutralise risks to domestic producers when signing preferential trade agreements. This practice continues. At the same time, Vietnam wants to expand its trade with the EAEU. In his speech at the Eastern Economic Forum in September 2019, Vietnam`s Deputy Prime Minister, Trenh Dinh Dung, proposed a further reduction of customs barriers to improve opportunities to realize his country`s economic potential. Discussions with Israel are progressing more slowly. The first round of negotiations took place at the end of 2018. It focused on trade defence measures, rules on the origin of goods, customs cooperation, dispute resolution, technical barriers to trade, health and plant health standards, public procurement and trade issues. The main problem is to reconcile the positions of the parties. Political differences with Tehran, which has already reached an agreement with the Eurasian Union, have not significantly influenced the course of the talks.

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