Eurasian Union Treaty text published

The website of the Kazakh Ministry of Economy and Budget Planning has published the latest version of the second part of the Treaty of the Eurasian Economic Union. Economists Oleg Noginsky, Alexander Mikhailenko and Vladimir Lepekhin commented on this version of the second part (the first one is still a secret) for VK.

The President of "Suppliers of the Customs Union" Oleg Noginsky said that this new version is a treaty that is ready for practical use. "The most important aspect of the Treaty is the decisions that all the points of it are decided by consensus. So it is not that one country decides and others have to agree with it".

Alexander Makhailenko, Professor of Foreign Politics at RANEPA, said that the main problem of the documents concerns currency integration, which is the most difficult aspect of the integration process. "If we look at the Eurozone, we see that it does not cover all the EU countries, there are only 18 out of 28 countries. Considering the serious devaluation of the tenge in January, we need to be very careful, but we have time".

Derector of EvrAzES Institute Vladimir Lepekhin said that the document has too many details. "To facilitate the approval of the Treaty, it is necessary to declare the principal position instead of writing the details. The longer the Treaty, the more questions it raises, and this prolongs the procedure of signing".