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Belarus parliament ratifies treaty on Eurasian Economic Union

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The Belarusian parliament on Thursday ratified a treaty on the Eurasian Economic Union (EEU) that groups Russia, Kazakhstan and Belarus and is to involve more republics of the former Soviet Union.

The Council of the Republic of the National Assembly of Belarus, or the upper house, ratified the treaty on the creation of the EEU, a European Union (EU)-style alliance. It was approved by members of the House of Representatives earlier.

The document will be sent to the president for signing, which marks the final step in the process of ratification on behalf of Belarus.

The EEU, signed by presidents of Russia, Kazakhstan and Belarus on May 29, is aimed at facilitating the free flow of people, capital and goods within the three countries and also boosting ties among them, which are already part of a customs union created in 2010 to build a free trade rival to the 28-nation EU.

The proposed EEU is expected to involve more republics of the former Soviet Union, such as Armenia and Kyrgyzstan.

The document will enter into force upon the exchange of the instruments of ratification by Belarus, Russia and Kazakhstan.

Last week, Russian President Vladimir Putin signed into law the EEU treaty after the parliament ratified the pact late last month, making Moscow the first of the three EEU proposing member states to have completed all legal procedures needed for the start of the new union scheduled for Jan. 1, 2015. 

Senate of Kazakhstan ratifies Treaty on Eurasian Economic Union

The senate of the parliament of Kazakhstan on Thursday passed a draft law on ratification of a treaty to launch Eurasian Economic Union on New Year's Day 2015.  As majilis, or lower house of the country's parliament, approved the draft law on the ratification of the Treaty on the Eurasian Economic Union (EEU) earlier this month, the document still needs the signature of President Nursultan Nazarbayev before it becomes a law.

Leaders of Russia, Kazakhstan and Belarus signed the Treaty on the Eurasian Economic Union in Astana, the capita of Kazakhstan, on May 29, which symbolizes a new stage of the Eurasian integration process.

And the agreement forging the EEU was inked by Belarusian President Alexander Lukashenko, Kazakh President Nursultan Nazarbayev and Russian President Vladimir Putin. The Treaty, which aims to create a necessary legal framework for the establishment of the EEU, will take effect from Jan.1, 2015.

The EEU is designed with the mission to facilitate the free flow of people, capital and goods within the three countries and is also aimed at boosting ties among them so as to build a free trade bloc rival to the 28-nation European Union.

The proposed EEU is expected to involve more republics of the former Soviet Union, such as Armenia and Kyrgyzstan.

Russian President Vladimir Putin signed into law on the ratification of the treaty on the EEU last Friday. 


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