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Eurasian Economic Union

EAEU countries sign agreement on single customs transit system

The EEC stressed that the adoption of the document contributes to the development of the union's transit potential, an increase in the level of security of cross-border deliveries and an increase in trade turnover between the countries of the Eurasian Five

IGORA /Leningrad Region/, December 26. /TASS/. The leaders of the countries of the Eurasian Economic Union (EAEU) have signed an agreement on the single customs transit system for the EAEU and third parties at a meeting of the Supreme Eurasian Economic Council, Chairman of the Board of the Eurasian Economic Commission (EEC) Bakytzhan Sagintayev told reporters.

"An agreement on a single customs transit system of the Eurasian Economic Union and third parties has been signed. It enables other states to join the EAEU transit system. Central Asian countries, China and our other trading partners can be beneficiaries of this project. The key objective of the agreement is to ensure seamless transportation by increasing the connectivity of territories and reducing business costs for cargo delivery. This is very important for the end consumer," Sagintayev said.

"The concept of the agreement defines the fundamental legal basis for concluding individual international agreements of the EAEU with third countries on the creation of a unified transit system. For example, Uzbekistan has already shown interest in this, and other CIS countries or such important trading partners of the EAEU as China may also be interested parties," the EEC said in a statement.

The EEC stressed that the adoption of the document contributes to the development of the union's transit potential, an increase in the level of security of cross-border deliveries and an increase in trade turnover between the countries of the Eurasian Five.

The EAEU countries are Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan.

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Eurasian Economic Union

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