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Biggest association to come into existence in post-Soviet space from December 23

December 22, 2014, 20:12 UTC+3 MOSCOW
The Eurasian Economic Union will be guided by the norms and principles of the World Trade Organization (WTO) and will ensure free movement of goods, services, capitals and labor force
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© ITAR-TASS/Mikhail Metzel

Infographics The Eurasian Economic Union starts its work The Eurasian Economic Union starts its work
The Treaty on the establishment of the Eurasian Economic Union comes into effect on January 1. Infographics by TASS

MOSCOW, December 22. /TASS/. A meeting of the Supreme Eurasian Economic Council due in Moscow on December 23 will be the final one in the process of formation of the Eurasian Economic Union, Russian president’s aide Yury Ushakov said on Monday.

“It means that just in a few days, the biggest association with a consumer market of more than 170 million people will come into existence in the post-Soviet space. This association will be guided by the norms and principles of the World Trade Organization (WTO) and will ensure free movement of goods, services, capitals and labor force,” he said.

The meeting will round up the process of the establishment of the Eurasian Economic Union. The leaders of Russia, Kazakhstan and Belarus will declare the finalization of ratification procedures on Armenia’s joining their Union from January 2, 2015. A treaty on Kyrgyzstan’s joining the Eurasian Economic Union will come into force on May 1, 2015, when the protocols are ratified.

The Moscow meeting will be attended by leaders of the Customs Union countries, namely Russia, Kazakhstan and Belarus, and Presidents of Armenia and Kyrgyzstan, Serzh Sargsyan and Almazbek Atambayev. They are expected to sign a treaty on Kyrgyzstan’s joining the Eurasian Economic Union and a number of other documents.

The agenda also includes agreement of principles and rules of circulation of medicines and medical items, and other issues. It is also planned to take a decision on the presidency in the Eurasian Economic Union in 2015. It will be held in the alphabetical order. “So, Belarus will be the first to hold presidency,” Ushakov said.

It is also planned to discuss issues of cooperation between the Eurasian Economic Union and foreign partners, namely, with Vietnam, Israel, India and Egypt. “Immediate plans include signing cooperation memorandums with the Association of Southeast Asian Nations (ASEAN) and MERCOSUR, the South American common market,” Ushakov added.

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