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Putin signs law on ratification of agreement on Armenia’s joining EAU

Other News Materials 23 December 2014 17:44 (UTC +04:00)
Russia’s President Vladimir Putin signed a law on ratification of the agreement on Armenia’s accession to the Eurasian Economic Union (EAU),
Putin signs law on ratification of agreement on Armenia’s joining EAU

Baku, Azerbaijan, Dec. 23

Trend:

Russia's President Vladimir Putin signed a law on ratification of the agreement on Armenia's accession to the Eurasian Economic Union (EAU), the RIA Novosti news agency reported Dec. 23.

The document stipulates that Armenia will join the agreement on the EAU, as well as other international documents concluded as part of the Customs Union.

It is envisaged that the tariff commitments of Armenia, which is a member of the World Trade Organization, will be revised and the Common Customs Tariff (CCT) of the EAU will be adjusted.

The ratified agreement provides for a transitional period from one to eight years to harmonize the import duties of Armenia, which differ the from CCT rates.

The agreement also envisages periods ranging from 12 to 60 months for the implementation of technical regulations of the Customs Union, and three years for the issues of protection of intellectual property rights.

During these transition periods, the EAU is entitled to determine a special order for the arrival on its territory of goods imported to Armenia.

Aside from that, the contract specifies the peculiarities of the movement of goods through the territory of foreign countries in line with the customs transit procedure using special means of identification.

It also regulates the issues related to the use of sanitary, veterinary-sanitary and phytosanitary quarantine measures.

The EAU agreement was signed by Russia, Belarus and Kazakhstan on May 29, 2014 in Astana, and will enter into force on Jan. 1, 2015.

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