Valentina Matviyenko says Eurasian Economic Union is open for all

Chairwoman of the Federation Council of Russia Valentina Matviyenko said that the Eurasian Economic Union is open for all, News Kazakhstan reports.


She noted that EurAsEC is developing according to norms of the EU and WTO. The official reminded that Europe needed 40 years to transform the European Coal and Steel Community into the European Union. Development of the Customs Union, Single Economic Space and the Eurasian Economic Union is more dynamic.


Russian President Dmitry Medvedev said that a treaty on formation of the Eurasian Economic Union may be signed on January 1, 2015. The EurAsEC interstate council will meet in May 2012.


Formation of EurAsEC was initiated in Astana on October 10, 2000, coming into force on May 30, 2001. It consists of Russia, Belarus, Kazakhstan, Kyrgyzstan and Tajikistan. Ukraine and Moldova became its observers in May 2002, Armenia in January 2003. The International Aviation Committee and the Eurasian Development Bank are monitoring the process as well.


Russia, Belarus and Kazakhstan formed the Customs Union to lift customs fees, trade limitations and adopt common rules for trade with third states. They formed the Single Economic Space on January 1, 2012, for free trade of goods, services, capital and labour, harmonization of laws, common tax, currency, financial and customs policy.


The Eurasian Economic Commission was formed for supervision of integration of the Customs Union and Single Economic Space. It is an analogue of the European Commission. Former Russian Minister for Industry and Trade Victor Christenko supervises the structure, headquartered in Moscow.
Kyrgyzstan and Tajikistan may join the process.

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