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Russia approves draft bill on Eurasian Economic Union Treaty ratification

July 22, 2014, 12:08 UTC+3 MOSCOW
The treaty on the establishment of the Eurasian Economic Union was signed by the presidents of Russia, Belarus and Kazakhstan on May 29 in Astana
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Documents on creation of the Eurasian Economic Union are signed on May 29, with Russian President Vladimir Putin (right), Kazakh President Nursultan Nazarbayev (center) and Belarusian President Alexander Lukashenko (left)

Documents on creation of the Eurasian Economic Union are signed on May 29, with Russian President Vladimir Putin (right), Kazakh President Nursultan Nazarbayev (center) and Belarusian President Alexander Lukashenko (left)

© ITAR-TASS/Mikhail Metzel

MOSCOW, July 22. /ITAR-TASS/. The Russian government’s legislative commission approved on Tuesday a draft law on ratifying the Eurasian Economic Union Treaty.

The document will be submitted to the government for discussion.

“The law will help launch the process of reducing exemptions, including barriers, and open mutual access for businesses to the market of the treaty’s member states,” the Russian government said.

Speaker of Russia’s upper house of parliament Valentina Matviyenko said early in July that parliaments of Russia, Belarus and Kazakhstan would synchronize the process of ratifying the Eurasian Economic Union Treaty, “We have agreed on synchronizing the fulfillment of intra-state procedures and ratifying this most important historic document,” the speaker said.

The treaty on the establishment of the Eurasian Economic Union was signed by the presidents of Russia, Belarus and Kazakhstan on May 29 in Astana.

The Eurasian Economic Union, which envisages the free movement of goods, services, capital and workforce and is based on the Customs Union of Russia, Belarus and Kazakhstan, will become operational from January 1, 2015.

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