Armenia to join EAEU Agreement by July 1

Photo: Armenia to join EAEU Agreement by July 1 / Armenia

Armenia's joining procedure on establishment of Eurasian Economic Union (EAEU) will be completed by July 1. Eurasian Economic Commission minister, Tatiana Valovaya, expressed confidence in macroeconomics and different integration directions at the press conference in Moscow on June 3, reported Belta.

"Armenia has created a good market structure and its economy is complementary to economies of other Union's countries", said Valovaya.

Tatyana Valovaya amended that Armenia will immediately join the Eurasian Economic Union Agreement. As for Kyrgyzstan, which is the next candidate for joining the integration triumvirate of Belarus, Russia and Kazakhstan, roadmap for the integration of this country with the Customs Union is currently being implemented. Minister told that a lot more problems must be solved so that Kyrgyzstan could join triumvirate. "Kyrgyzstan has a common frontier with the Customs Union and it is important that this frontier would not become a risk zone for the penetration of illegal commodities into the Customs Union," she said, adding that roadmap for the integration of Kyrgyzstan with the EAEU will be developed later.

Tatyana Valovaya also specified Tajikistan as the next candidate for joining the Union.
"When thinking about the potential expansion of EAEU we carefully analyzed experience of the European Union, Ms. Valovaya said. Mandatory precondition for such expansion is proper balance between the strengthening of economic cooperation and broadening of boundaries. EEUA will not be deal with the expansion just for the sake of expansion, it will be focused on quality".

Eurasian Economic Union - Economic Union, which within the framework of Eurasian integration will be established since January 1, 2015 based on the Customs Union of Russia, Kazakhstan and Belarus instead of abolished Eurasian Economic Union.
An area of the EAEU will exceed 20 million square kilometers, population of its territory about 170 million people.

Trilateral agreement about establishment of the Eurasian Economic Union was signed on 29 May, 2014 at the Summit in Astana.

Common financial regulator of the Eurasian Economic Union will begin its activity in 2025, with the headquarters in Almaty (Kazakhstan).

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