YEREVAN — Armenia officially joined the Eurasian Economic Union (EEU) on Friday January 2nd, that also comprises Russia, Belarus and Kazakhstan.

As part of a deal signed last October, Armenia will have limited representation in the organization until the end of 2015. Three Armenian members will share one vote in the union’s governing body, the Eurasian Economic Commission, TASS news agency reported Friday.

Kyrgyzstan is also set to join the union on May 1.

Armenia’s entry into the EEU means it will have to gradually transition to a unified tariff system with the union’s other members, with 2022 set as the deadline for the full transition, TASS reported.

In addition Armenia will use zero customs rates for gasoline till 2018.

The country will have to negotiate with the World Trade Organization, of which it is a member, on its changing obligations in light of its new membership with the economic bloc of former Soviet republics.

Leave a Reply

Your email address will not be published. Required fields are marked *

Sign Up for Our Newsletters

Get notified of the latest updates from MassisPost.

You May Also Like

Mkhitaryan Scores \’Phenomenal\’ Scorpion Kick Goal as United Beats Sunderland

MANCHESTER — Henrikh Mkhitaryan scored an acrobatic back flick to wrap up…

Google Maps Presents NKR as ‘Artsakh Republic’: Azerbaijan Unhappy

BAKU — Azerbaijan is unhappy about the fact that Google maps present…

The Press Collection of the Mekhitarist Library is Now Online

The Mekhitarist Congregation’s journal collection and its portal website are now live,…

Members of Congress Call on President Trump to Affirm the Armenian Genocide Recognition

WASHINGTON, D.C. – Congressional Caucus on Armenian Issues Co-Chairs have written to…