Press secretary of Belarusian president Natalia Eismont has confirmed that Aleksander Lukashenko has signed the Customs Code of the Eurasian Economic Union.
The Customs Code of the Eurasian Union will replace the Code of the Customs Union, adopted in 2009. The document is drafted to lay the basis for single customs regulations within the Union. The Code is expected to come into force on July 1, 2017.
Singing of the document took place broadly thanks to the settlement of the oil and gas dispute between Russia and Belarus. It has become another step to strengthen integration process within the EEU and proved the importance of union relations. For Belarus, signing of the document is of no less importance, since the major part of Belarusian export accrues to Union members.
Note: Presidents of Russia, Kyrgyzstan, Kazakhstan and Armenia signed the Customs Code of the Eurasian Union at the meeting of the Supreme Eurasian Economic Council, held in Saint Petersburg on December 26, 2016. Belarus was not presented at the meeting. Later, president Lukashenko signed a decree providing for further negotiations on the draft document.
The new Customs Code is a key step for establishment of a common economic area among the EEU members. It will significantly simplify trade processes within the Union, and unlike the previous document, the new Code provides for uniform rules for all members (Russia, Belarus, Kyrgyzstan, Kazakhstan and Armenia).
Note: Acting Customs Code includes 211 reference norms to national legislations on customs regulations. In the new document these norms have been revised. A part of them have been included directly into the text of the document, and another part has been brought to the supranational level and placed under authority of the Eurasian Economic Commission. Reference norms to tax, currency, administrative, civil and other sectors of legislation have been kept in their original form.
Among other advantages of the new Customs Code there is the introduction of modern information technologies, thanks to which paper declarations will become a thing of the past (unless asked otherwise). Technology base of customs departments of the EEU members is ready to switch to the new regime of work, and soon the countries will fully enjoy the benefits of simplified customs procedures within the Union.