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Belarus ratifies Eurasian Economic Commission Treaty

28 November 2011 18:26 (UTC +04:00)

Baku-APA. The parliament of Belarus on Monday ratified the Eurasian Economic Commission Treaty, which will become the executive body of the Eurasian Economic Union (EEU), APA reports quoting Xinhua.

The Eurasian Economic Commission, the heir to the Customs Union Commission, will assume the functions of the Customs Union Commission and some other trans-national tasks, said Deputy Prime Minister Sergei Rumas.

Rumas said the commission will begin work on Jan. 1 next year as a permanent regulatory body of the Customs Union among Belarus, Russia and Kazakhstan.

The share of Belarussian representatives in the commission will be 6 percent, while Kazakhstan will take 10 percent and Russia will hold 84 percent.

The presidents of the three countries signed the Eurasian Economic Commission Treaty recently in Moscow.

Russia, Belarus and Kazakhstan have signed a package of agreements aimed at moving the former Soviet republics closer together, including one on the creation of the EEU by 2015, to seek economic integration of the three countries.

The EEU was initiated by Russian Prime Minister Vladimir Putin last October. According to Putin’s initiative, the Russia-Belarus-Kazakhstan Customs Union should gradually transform itself into the EEU, which is expected to become a bridge between Europe and the Asia-Pacific region.