Eurasian Economic Union agreement ratified
From January 1st, 2015, a new integration association will appear on the world map, covering an impressive 20 million square kilometres, and a population of 170 million people
From January 1st, 2015, a new integration association will appear on the world map, covering an impressive 20 million square kilometres, and a population of 170 million people. With an aggregate GDP of $3 trillion, the Eurasian Economic Union will stand in sixth place worldwide.
Belarus will have equal rights participation in the association, having ratified the agreement to create the EEU: the House of Representatives, the Council of the Republic and the President have, respectively, passed legislation and signed the corresponding law.
The Head of the Presidential Administration, Andrei Kobyakov, tells us that Mr. Lukashenko signed the law to ratify the EEU Agreement, which includes a text added by the President this May, during signing in Astana. His addition states that Belarus will honestly carry out its obligations — as laid out in the agreement — and will undertake all measures to realise its duties, provided that all barriers and restrictions to free trade are removed — including quotas and traditional exemptions on certain goods and services (such as energy resources, production of assembly manufactures, and road haulage).