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Times of Central Asia
Jan 6 2015
Eurasian Economic Union expands with accession of Armenia
Tuesday, 06 January 2015 07:21
Written by Alexan Talin
YEREVAN (TCA) -- Armenia is now the fourth member country of the
Russian-led Eurasian Economic Union, joining with Russia, Belarus and
Kazakhstan.
To become a full fledged member, Armenia had to take 126 measures out
of 267 "prior to accession". All of them have been taken. Certain
provisions relating to the implementation of these items are included
in the Treaty on Accession. Within the frameworks of the accession
procedure the experts of the Eurasian Economic Commission made more
than 40 visits to Armenia.
Armenia has become part of the Treaty on the Eurasian Economic Union,
signed by the Presidents of the EEU member states -- Alexander
Lukashenko, Nursultan Nazarbayev and Vladimir Putin -- on May 29, 2014
in Astana, as well as other international treaties forming the EEU
legal framework. From now on, Armenia undertakes corresponding
obligations, and therewith gets access to the EEU single market with
170 million citizens.
By joining the Eurasian Economic Union, Armenia gets fully involved
into implementation of the Eurasian project aimed, on one hand, at
forming of four freedoms: free movement of goods, services, capital
and labor force; and on the other hand, at creation of one of the key
economic centers of evolving architecture of the multi-polar world.
The fourth partner expects a number of positive effects from
integration. Among the key ones are an increase of goods turnover due
to elimination of barriers and minimization of administrative
expenses, increase of mobility of labor force due to introduction to
the single labor market, increase of stability of economic development
due to reduction of economic isolation effect, development of
infrastructure projects, participation in drawing up of the agenda
using the mechanisms of the Eurasian Economic Union.
The Treaty on accession provides for full involvement of Armenia's
representatives into the activities of the EEU governance. Upon entry
of the Treaty into force the President of Armenia becomes a
full-fledged Member of the Supreme Eurasian Economic Council, and the
Prime Minister becomes a Member of Intergovernmental Council; the
full-fledged representative joins the Eurasian Economic Commission.
Armenia will be represented by three Members in the Board of the
Eurasian Economic Commission.
The Eurasian Economic Commission (EEC) is a supranational governing
body of the Customs Union of Belarus, Kazakhstan and Russia (CU) and
the Single Economic Space (SES) of the Eurasian Economic Community.
The main task of the EEC is to ensure conditions for the CU and SES
operation and development as well as to elaborate economic integration
initiatives within the framework of the CU and SES.
Other countries that are supposed to join the Eurasian Economic Union
in the near future are the Kyrgyz Republic and Tajikistan.
http://www.timesca.com/news/14838-eurasian-economic-union-expands-with-accession-of-armenia
Jan 6 2015
Eurasian Economic Union expands with accession of Armenia
Tuesday, 06 January 2015 07:21
Written by Alexan Talin
YEREVAN (TCA) -- Armenia is now the fourth member country of the
Russian-led Eurasian Economic Union, joining with Russia, Belarus and
Kazakhstan.
To become a full fledged member, Armenia had to take 126 measures out
of 267 "prior to accession". All of them have been taken. Certain
provisions relating to the implementation of these items are included
in the Treaty on Accession. Within the frameworks of the accession
procedure the experts of the Eurasian Economic Commission made more
than 40 visits to Armenia.
Armenia has become part of the Treaty on the Eurasian Economic Union,
signed by the Presidents of the EEU member states -- Alexander
Lukashenko, Nursultan Nazarbayev and Vladimir Putin -- on May 29, 2014
in Astana, as well as other international treaties forming the EEU
legal framework. From now on, Armenia undertakes corresponding
obligations, and therewith gets access to the EEU single market with
170 million citizens.
By joining the Eurasian Economic Union, Armenia gets fully involved
into implementation of the Eurasian project aimed, on one hand, at
forming of four freedoms: free movement of goods, services, capital
and labor force; and on the other hand, at creation of one of the key
economic centers of evolving architecture of the multi-polar world.
The fourth partner expects a number of positive effects from
integration. Among the key ones are an increase of goods turnover due
to elimination of barriers and minimization of administrative
expenses, increase of mobility of labor force due to introduction to
the single labor market, increase of stability of economic development
due to reduction of economic isolation effect, development of
infrastructure projects, participation in drawing up of the agenda
using the mechanisms of the Eurasian Economic Union.
The Treaty on accession provides for full involvement of Armenia's
representatives into the activities of the EEU governance. Upon entry
of the Treaty into force the President of Armenia becomes a
full-fledged Member of the Supreme Eurasian Economic Council, and the
Prime Minister becomes a Member of Intergovernmental Council; the
full-fledged representative joins the Eurasian Economic Commission.
Armenia will be represented by three Members in the Board of the
Eurasian Economic Commission.
The Eurasian Economic Commission (EEC) is a supranational governing
body of the Customs Union of Belarus, Kazakhstan and Russia (CU) and
the Single Economic Space (SES) of the Eurasian Economic Community.
The main task of the EEC is to ensure conditions for the CU and SES
operation and development as well as to elaborate economic integration
initiatives within the framework of the CU and SES.
Other countries that are supposed to join the Eurasian Economic Union
in the near future are the Kyrgyz Republic and Tajikistan.
http://www.timesca.com/news/14838-eurasian-economic-union-expands-with-accession-of-armenia