Yerevan /Mediamax/. At today’s session, the Armenian government approved the draft agreement on Armenia’s “joining the Agreement on Eurasian Economic Union signed on May 29, 2014”.

Presenting the draft agreement at the governmental session, Deputy Finance Minister Suren Karayan said that the draft, Armenia joins the agreement on the EEU as well as other international agreements that were signed within the framework of the establishment of the legal-contractual base of the Customs Union and the Common Economic Space, and are part of the EEU right.

“Armenia becomes EEU member after the agreement comes into effect. The agreement also envisages issues related to the fulfillment of the decisions adopted in the Customs Union and Common Economic Space and improvement of relations and settlement of disputes with the World Trade Organization”, the Deputy Minister noted.

According to Suren Karayan, the agreement’s annex sets the list of goods on which import customs duties different from the common EEU customs tariffs will be imposed during the transition period of Armenia.

“Since Armenia has no common border with the EEU member states and the transfer of goods and transport means will be carried out through a third country, there is an accompanying annex which lists the peculiarities of those transit conveyances”, Suren Karayan noted.

The Armenian Prime Minister has set a period of three days for the translation of the draft agreement. All the ministries were assigned to study the agreement based on peculiarities of their areas.

Once the agreement comes into effect, the acts and decisions of the EEU bodies will be subject to application in Armenia.

The agreement shall be subject to ratification and shall come into effect after receiving the last written statement on the completion of the required inter-state procedures of the parties through diplomatic ways by the depository but not earlier than the next day after the Agreement on EEU comes into effect (January 2, 2015).