Treaty on Eurasian Economic Union signed

ЕЭС

After the Supreme Eurasian Economic Council meeting in Astana, President of Russia Vladimir Putin, President of Kazakhstan Nursultan Nazarbayev and President of Belarus Alexander Lukashenko signed the Treaty on the Eurasian Economic Union.

The Treaty on the Eurasian Economic Union will come into force on the Customs Union territory on January 1, 2015.

Work on the document began back in November 2011 at the first summit meeting of the Supreme Eurasian Economic Council, where the presidents of the Russian Federation, Belarus and Kazakhstan adopted a declaration on Eurasian economic integration, which became a sort of ‘roadmap’ for the development of their integration.

Taking part in drafting the final treaty on the Russian side were over 30 federal executive bodies. The document is based on norms of the contractual legal framework of the Customs Union and Common Economic Space, which were optimised, improved and brought into compliance with the rules of the World Trade Organisation.

The three states undertake to guarantee the free movement of goods, services, capital and work force and to implement a coordinated policy in such key branches of the economy as energy, industry, agriculture and transport.