Eurasian Economic Union Treaty comes into force

Jan 01. Kazpravda

By Batyrbek Agimbetov

Eurasian Economic Union Treaty comes into forceThe EEU Treaty was signed by the heads of Kazakhstan, Belarus and Russia May 29, 2014 in Astana.

January 1, 2015 the EEU Treaty has come into force, informs. It is an ambitious international project, providing freedom of movement of goods, services, capital and manpower on the territory of Kazakhstan, Russia and Belarus.

The EEU Treaty was signed by the presidents of Belarus, Kazakhstan and the Russian Federation, May 29, 2014 in Astana. The Republic of Armenia and the Kyrgyz Republic will also be the members of the economic union.

The EEU aims to form a common energy market and a common energy policy.

“The document suggests that these tasks will be implemented gradually and finalized in 2025: formation of a common energy market is expected to be completed by 2019, and a common hydrocarbon market – by 2025. The EEU Treaty specifies a regulatory regime for circulation of medicines and medical devices within the Union. By January 1, 2016 a common market of pharmaceutical services and a common market of medical products will be created”, – said in the press release.

Earlier, 23 Dec, at the meeting of the Supreme Eurasian Economic Council in Moscow, it was decided that Belarus will chair the EEU in 2015.