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06 December 2017, 14:02

Ratification of EAEU Customs Code nearing completion

MOSCOW, 6 December (BelTA) - Countries of the Eurasian Economic Union (EAEU) are completing the ratification of the Customs Code, Member (Minister) for Customs Cooperation of the Eurasian Economic Commission (EEC) Mukai Kadyrkulov said at the Eurasian Economic Congress in Moscow on 6 December, BelTA has learned.

According to the minister, Russia and Belarus have already completed the ratification of the Customs Code. The document is going through the ratification procedures in the parliaments of Armenia, Kazakhstan and Kyrgyzstan.

Mukai Kadyrkulov called the EAEU Customs Code a breakthrough document that corresponds to the current level of economic development. Business communities of all five countries of the Eurasian Economic Union were actively involved in the work on the document. More than 70% of their proposals are reflected in the Customs Code.

The minister noted that most of the provisions are directly applicable. The code gives priority to the use of information technologies, introduces the institute of an authorized economic operator participant of foreign economic activity.

The congress, which is supported by the Eurasian Economic Commission, has brought together some 800 participants. It is a platform for dialogue between the business community, the EEC, the authorities of the EAEU member states, professional and community organizations. One of the main themes of the event is the resetting of economic relations between the countries of the Eurasian continent. Panel sessions at the congress are dedicated to the EAEU Customs Code, the single market for drugs, the formation of the common energy market, the development of industrial cooperation.

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