Armenia leaves economic court of CIS countries

Armenia Materials 22 December 2006 15:55 (UTC +04:00)

(ArmInfo) -. RA Parliamentarians resolved today on Armenia's leaving the Economic court of CIS countries.

Grounding the President's decision, RA Justice Minister, David Harutiunyan, underlined that the Economic court did not prove the expectations of Armenia in solution of problems between the business entities of CIS countries. The Agreement on creation of the Court had been signed on July 6, 1992 in Moscow. The Court participants are Russia, Armenia, Belarus, Kazakhstan, Kirgizia, Moldova and Tajikistan. The Court's inactivity was initially laid in its Statute, which prescribes to determine the measures it guarantees. The Court was even provided with the necessary authorities, reports Trend.

It could not become a more authoritative organization in this situation. Armenia has joined the Court taking into account the fact that this structure could play a sufficient role under the comments of Soviet Laws and ad their application under new conditions. However, these Acts became invalid since 1995 and the Economic Court has become no more actual for the country.

Meanwhile, the Republic keeps on paying the dues to this structure. Since 2004, the Heads of CIS states have prohibited the court to function on a permanent basis and presently it is functioning in a session regime (twice a year). In view of this, RA President has offered to revise the issue of cessation of Armenia's participation in this Court.