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Economy 19/07/2007 EurAsEC members agree on legal framework for Customs Union

The countries of the Eurasian Economic Community (EurAsEC) are conducting the domestic intra-state procedures for the agreement on the legal framework for the Customs Union, RIA Novosti quoted Vice Premier of the Russian Federation Sergey Naryshkin.

"Today during the meeting of the Integration Committee we stated that the 24 documents constituting the legal framework of the Customs Union are being reviewed domestically by the member-states," he told media following the meeting, on 17 July.

Vice Premier said meeting participants agreed that the disputes to arise in the Customs Union would be settled by the Court of the EurAsEC.

They also approved the draft of the agreement on the principles of the EurAsEC foreign exchange policy, specifically on the control over the flow of capital and the draft of the agreement on the use of the customs map in the transfer of goods across the EurAsEC borders.

Naryshken added that the next meeting of the EurAsEC Executive Committee would be held on 4 September in Moscow.

EurAsEC includes Belarus, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Uzbekistan. Armenia, Moldavia and Ukraine are observers.

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