Tuesday, October 1 2019 12:07

ArmInfo. In Yerevan today, October 1, a meeting of the Supreme Eurasian Economic Council starts at the presidential residence on Baghramyan 26. The meeting will be  attended by heads of EAEU Member States - Prime Minister of the   Republic of Armenia Nikol Pashinyan, President of the Russian  Federation Vladimir Putin, President of the Republic of Belarus  Alexander Lukashenko, President of the Republic of Kazakhstan  Kassym-Zhomart Tokayev, President of the Kyrgyz Republic Sooronbai  Jeenbekov, as well as Chairman of the Board of the Eurasian Economic  Commission Tigran Sargsyan.

According to the official agenda, a narrow-ended meeting is expected  during which issues related to the distribution of import customs  duties between the budgets of the member states of the Eurasian  Economic Union will be discussed. The meeting participants will also  touch upon the chairman and staff of the Board of the Eurasian  Economic Commission.

An expanded meeting of the Supreme Eurasian Economic Council in  Yerevan will discuss over 10 issues.  In particular, the meeting  participants will consider the issue of approving the amount of fees  paid by business entities when applying to the EAEU Court, the  question of amending the decision of the Supreme Eurasian Economic  Council of October 10, 2014, the report on the execution of the EAEU  budget for 2018, and the EAEU budget.

The leaders of the EAEU member states will discuss the Union's budget  for 2020, the main directions of the EAEU's international activities  for 2020, the concept of forming the EAEU common financial market,  the issues of signing protocols on amending the EAEU Agreement of May  29, 2014, and approving the procedure for paying off the debts of  EAEU members on the payment of equity contributions to the EAEU  budget, on harmonization of the legislation of the EAEU member states  in the field of gas transportation and supply between members of the  organization, on early termination of member ollegii Eurasian  Economic Commission and the appointment of board members, on  amendments to the position of number 1 to the Rules of the Eurasian  Economic Commission, on amendments to the Regulations on the Board of  the agro-industrial policy EAEC. They will touch upon the time and  place of the next meeting of the Supreme Eurasian Economic Council.

Earlier it was reported that members of the EAEU Supreme Council will  consider current issues of the Eurasian Economic Union, promising  areas for the further development of integration processes, outline  tasks to improve the functioning of the EurAsEC single market and  expand cooperation in key sectors of the economy.

The leaders have prepared for approval the Concept for the formation  of the common financial market of the Union, the budget of the Union  for next year and a number of decisions on the harmonization of  legislation in the field of transport and energy. The main directions  of the Union's international activities for 2020 will also be agreed.  In addition, the Free Trade Agreement between EurAsEC and Singapore  will be signed. The purpose of the agreement is to create mutually  beneficial conditions for the parties to develop trade relations and  stimulate areas that substitute mutual interest. The document is also  aimed at eliminating obstacles to trade and investment, reducing  business costs and increasing economic efficiency.  The agreement  contains sections related to trade in goods, means of protection of  trade, rules for establishing the origin of goods, technical barriers  to trade, sanitary and phytosanitary measures, intellectual property,  public procurement, competition, the environment, cooperation in  customs and trade facilitation.

Recall that the signing of a bilateral agreement on services,  investments and trade between Armenia and Singapore is also expected.  As Armenian Minister of Economy Tigran Khachatryan stated earlier,  the document, in addition to the EAEU-Singapore free trade agreement,  which liberalizes trade, also liberalizes the procedures for  investment and trade in services. According to the head of the  Ministry of Economy, by agreement the Armenian goods will be exported  to Singapore at a zero customs rate.  The Eurasian Economic Union is  a regional international organization for economic integration,  endowed with international legal personality and formed by the Treaty  on the Eurasian Economic Union, signed on May 29, 2014 in Astana. The  EAEU was created on the basis of the Customs Union of Belarus,  Kazakhstan and Russia and the Common Economic Space. The Agreement on  the Accession of the Republic of Armenia to the Treaty on the EAEU  was signed on October 10, 2014. and entered into force on January 2,  2015. On December 23, 2014, an agreement was signed in Moscow on the  accession of the Kyrgyz Republic to the agreement on the EAEU  (Kyrgyzstan has been a member of the EAEU since August 12, 2015).