Armenia becomes full member of the Eurasian Economic Union

From January 2, 2015, Armenia has become a full member of the Eurasian Economic Union (EAEU). However, the organization will remain represented in the executive bodies without Armenia till the end of 2015, until their term is over.

Besides, by the end of the year, Armenia will be represented in the EAEU board by three members; they will have a single ballot without assigning certain spheres of control to them. Armenia’s share in custom duties from imports of goods into the EAEU will be 1.13%. At the same time, the share of Belarus will be cut from 4.7% to 4.65%, Kazakhstan’s share from 7.3% to 7.25%, Russia’s share from 88% to 86.97%.

The agreement on Armenia joining the alliance of Russia, Belarus and Kazakhstan was signed in October 2014.