Kyrgyzstan: Draft Eurasia Custom Union deal agreed

Monday, May 26, 2014

BISHKEK – The Kyrgyz Parliament's International Affairs and Economy Committee have agreed a draft deal to begin removing economic borders between Russia, Kazakhstan and Belarus.

Final signatures on the proposed Eurasia Custom Union agreement are expected to be inked during a meeting of the Supreme Eurasian Economic Council on 29 May, after the draft is ratified by parliament and approved by President Almazbek Atambayev, officials said on Monday.

 The union, made up of Belarus, Kazakhstan and Russia, was first launched in 2011 as an initial step towards creating an economic bloc among former Soviet states modeled on the European Union.

Kyrgyzstan and Tajikistan have shown interest in joining the organization, which seeks to establish the Eurasian Union by 2015.

Promoting the new draft to the International Affairs Committee, Economy Minister, Temir Sariev, said that parliament would create 30 new laws and more than 90 legal arrangements within a year following Kyrgyzstan's acceptance of the agreement.

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