BELARUS NEWS AND ANALYSIS

DATE:

15/10/2008

Russia ratifies docs on customs union with Belarus, Kazakhstan

MOSCOW, Oct 15 (Prime-Tass) -- The Federation Council, the upper house of the Russian parliament, has ratified a package of documents to create a customs union with Belarus and Kazakhstan, ITAR-TASS reported Wednesday.

One of the ratified agreements envisages free trade among the three countries, while the other agreement creates a commission that is the customs union's regulatory body consisting of deputy prime ministers or ministers from the member states.

The Federation Council also ratified protocols whereby all disputes within the customs union will be resolved by the court of the Eurasian Economic Community. The customs union is being created as part of the Eurasian Economic Community.

Before the end of this year nine more documents are expected to be adopted to form the legal framework for the customs union, Vadim Gustov, the chairman of the Federation Council's committee for CIS issues, said.

All the ratified documents were signed at a meeting of the intergovernmental council of the Eurasian Economic Community in October 2007.

The customs union is expected to start functioning by 2010, Russian Prime Minister Vladimir Putin said earlier.

The Eurasian Economic Community also includes Kyrgyzstan, Tajikistan, and Uzbekistan. Moldova, Ukraine, and Armenia have observer status.

Source:

http://www.prime-tass.com/news/show.asp?topicid=68&id=445853

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