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Single services market to come into effect in Eurasian Union

26 december 2014, 16:48
0
Photo courtesy of Eurasian Economic Commission
Photo courtesy of Eurasian Economic Commission

The Council of the Eurasian Economic Commission has discussed the functioning of the single market for services within the Eurasian Economic Union (EEU). In particular, the Council adopted a resolution "On the draft decision of the Supreme Eurasian Economic Council approving the list of services that become part of the single market of services within the Eurasian Economic Union". The decision was approved at a meeting of the Supreme Eurasian Economic Council at the presidential level yesterday, Tengrinews reports citing BNews.kz.

Single market for services in some sectors will be launched together with the Eurasian Economic Union on January 1, 2015. The list of the service sectors was developed based on proposals of Belarus, Kazakhstan and Russia. The total number of such service sectors is 43. In value terms, this is almost 50% of all the services provided in the EEU member states.

22 service sectors will become part of the single services market for three member states from the date of entry into force of the EEU Treaty (for example, services related to agriculture, lease of machinery and equipment without operator, consultancy services for management, services involving development of software). Additional 6 service sectors included are those where of Kazakhstan will get a transitional period until 1 January 2016 (these are services in the field of wholesale and retail trade, franchising services, hotel and public catering services). Also, Belarus and Russia are establishing a single market for services starting 1 January 2015 in 15 additional sectors (such as construction services, engineering, services for stores and warehouses, maintenance and repair of equipment for road transport).

Thus, starting from 1 January 2015 a single market for services will be operational in a number of sectors as agreed by the member states. According to the EEU Treaty, member states will seek to establish and operate a single market for services in as many service sectors as possible. In the future, the parties will seek to maximize the expansion of these sectors, including through gradual reduction of exceptions and limitations, promising to strengthen the Eurasian integration.

For the first time member states will need to make specific commitments related to formation and functioning of the single services market. In order to ensure smooth transition to the single service market, service providers will be given the highest level of freedom, such as being exempt from restrictions, exceptions and additional requirements in delivering and receiving services, save for certain cases. Service providers will also be exempt from needing to re-establish in the form of a legal entity. They will have the possibility to provide services and work on the basis of a permit for the supply of services received by the service provider on the territory of a member state where the service provider is registered. Professional qualifications of the service provider will be recognized.

By Dinara Urazova


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