Putin signs law ratifying treaty on Kyrgyzstan's accession to Eurasia union

MOSCOW. KAZINFORM - Russian President Vladimir Putin has signed a law ratifying a treaty on Kyrgyzstan's accession to the Eurasian Economic Union (EAEU), the Kremlin press service said on Monday. The document was published on the official web portal for legal information.

The Kremlin said Putin had also approved a number of documents which form an integral part of the "Kyrgyz treaty", including a protocol outlining terms and transitional periods for the central Asian republic to apply certain provisions of the basic treaty.

The Eurasian Economic Union, which envisages free movement of goods, services, capital and labour and is based on the Customs Union, started operating in January, replacing the Eurasian Economic Community, which officially ceased to exist last October.

The regional assembly Russia formed together with Kazakhstan and Belarus expanded to four nations on January 2 when Armenia formally joined, a day after the union came into operation.

The treaty on Kyrgyzstan joining the new Russia-led political and economic bloc was signed in Moscow on December 23, 2014. But the republic's full membership is expected to be preceded by a transitional period.

On May 8, EAEU member states signed in Moscow a protocol which defined terms and transitional periods of the republic's accession to the union.

In particular, the protocol stipulates that from the date of entry into force of the accession treaty, Kyrgyzstan will use a single commodity classification of the EAEU external economic activity. The common customs tariff will take effect after the Supreme Eurasian Economic Council adopts a decision to cancel the customs clearance of goods and vehicles transferred across the Kyrgyz-Kazakh part of the state border. It also regulates issues of compliance with a single trade regime and distribution of import customs duties.

A separate protocol introduces amendments to the basic treaty related to the accession of a new member state, Kazinform refers to TASS.

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