2 հունվար, 2015 12:26

Armenia Becomes Member of the Eurasian Economic Union

066-МежгоссоветAs of January 2, Armenia becomes a full member of the Eurasian Economic Union (EEU). This was confirmed by Russian President Vladimir Putin on December 23, 2014 at a press conference following a session of the EEU’s Supreme Council in Moscow. The EEU, which came into force on January 1, 2015, includes the Russian Federation, Kazakhstan and Belarus. It is expected that Kyrgyzstan will join the EEU in May of this year.

Background

The treaty creating the Eurasian Economic Union was signed on May 29, 2014 in Astana by the presidents of Russia, Belarus and Kazakhstan, Vladimir Putin, Aleksandr Lukashenko and Nursultan Nazarbayev.

On October 10, Armenia signed the agreement to become a full member of the EEU in Minsk, the capital of Belarus. Armenia’s National Assembly ratified the document on December 4 by a vote of 103 in favor, seven opposed with one abstention. On December 10, the Russian State Duma also ratified the agreement followed by the Russian Federation Council on December 17.

The Kazakh parliament ratified Armenia’s entry into the EEU on December 18 and on the following day, Belarus’s parliament also ratified it.

Kyrgyz President Almazbek Atambayev signed the treaty for his country to join the EEU on December 23.

According to the regulations of the EEU, the member states must gradually create a common market for pharmaceuticals, electricity, oil, and natural gas. Also, as of 2015, citizens of Russia, Belarus and Kazakhstan will not be obligated to obtain work permits to secure employment in any of the member state countries.