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Armenia will take the presidency of the Eurasian Economic Union from February 2016

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arton117525-480x320Armenian President Serzh Sargsyan participated yesterday in Kazakhstan the Board of Heads of States member countries of the Eurasian Union. The Presidents Serge Sakissian (Armenia), Belarus (Alexander Lukashenko), Nursultan Nazarbayev (Kazakhstan), Almazbek Atambayev (Kyrgyzstan) and Vladimir Putin (Russia) have set evokes the development elements of the Eurasian Union. The presidents of the member states also signed a number of economic association documents and contracts with third countries. It was also decided to negotiate with Israel for the creation of a free trade area. Practical issues related to the functioning of the Eurasian economic space were raised and discussed between Member States. It was also decided that Armenia will take the presidency of the Eurasian Economic Union from 1 February 2016, as president being provided by the former Armenian Prime Minister Tigran Sargsyan.

Krikor Amirzayan

Saturday, October 17, 2015,
Krikor Amirzayan © armenews.com

Armenia becomes full member of Eurasian Economic Union

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AEB 1YEREVAN. – From January 2 Armenia became a full member of the Eurasian Economic Union that also comprises Russia, Belarus and Kazakhstan.

Till the end of 2015 Armenia will be represented by three members sin the Eurasian Economic Commission. They will have one vote without assigning them spheres of competence.

Armenia’s share in customs duties will make 1.13 percent, while the share of Belarus will reduce from 4.7 percent to 4.65, that of Kazakhstan from 7.3 percent to 7.25, and Russia’s from 88 percent to 86.97.

As regards services, Armenia joins the agreement of members of the EEU on a common basis, while on  trade a gradual transition to the Common Customs Tariff is provided.

Up to 2022 Armenia will be able to apply different rates from the EEU customs duties on a number of products, including meat and meat products. Until 2020 a separate tariff for some types of dairy products, eggs, honey will be applied for Armenia, and for some types of fruits and nuts till 2019.

In addition Armenia will use zero customs rates for gasoline till 2018.

In connection with the accession to the Eurasian Economic Union, Armenia will begin negotiations with the World Trade Organization (WTO) members to change their obligations under the WTO.