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Eurasian Economic Union Treaty to be submitted to Kazakhstan Parliament in September

11 july 2014, 15:07
0
Illustration ©tengrinews
Illustration ©tengrinews

The Eurasian Economic Union Treaty of Kazakhstan, Russia and Belarus will be submitted to the Kazakhstan Parliament in September, 2014, Tengrinews reports referring to the Ambassador-at-Large of the Ministry of Foreign Affairs of Kazakhstan Assan Kozhakov.

“January 1, 2015 is the official date of a full-fledged launch of the Eurasian Economic Union (EEU). We should submit the document to the Kazakhstan Parliament to begin the ratification process. I believe the ratification process will start in September and take a couple of months,” Assan Kozhakov said.

The treaty consists of nearly one thousand pages, 28 chapters, 118 articles and 33 annexes.

"We realise that the Parliament will have a difficult, detailed and thorough discussion on every article of the treaty," Assan Kozhakov said, adding that proposals and recommendations of the MPs, government agencies, public authorities and businessmen would be taken into account.

President of Kazakhstan Nursultan Nazarbayev, president of Belarus Alexander Lukashenko and president of Russia Vladimir Putin signed the treaty establishing the EEU on May 29, 2014.

The EEU is a large free trade economic alliance between Kazakhstan, Russia and Belarus stretching from Asia to Europe with the shared market of 170 million people.

The EEU is designed to strengthen ties between the ex-Soviet countries that already share common aspects in their economies since the Customs Union was created in 2010.

The Treaty maintains sovereignty of all three signatory states and their territorial integrity and respects their political regimes. The decision-making process at all levels of the Eurasian Economic Union will be consensus-based, which means that each of the three countries will have the decisive say in all the matters and will be able to veto anything it doesn’t like.

Writing by Assel Satubaldina, editing by Tayana Kuzmina


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