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Feb 25, 2015 (Newsletter Issue 3/15)
Armenia
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Joined Eurasian Economic Union


Armenia became a member of the Eurasian Economic Union (EEU) on January 2, 2015, after Russian President Vladimir Putin signed on December 23, 2014 a law ratifying the agreement on Armenia’s accession.

The agreement envisages that Armenia joins the EEU Treaty and other international agreements signed within the frames of the Customs Union of Belarus, Kazakhstan and Russia. Armenia will have to amend its tariff commitments as member of the World Trade Organization, while the EEU’s Common Customs Tariff (CCT) will also have to be revised.

According to the EEU Treaty, Armenia will have one to eight years to harmonize its import duties in accordance with the CCT rates, one to five years to implement the Customs Union’s technical regulations, and three years to adjust the IP-related issues.

Source: www.petosevic.com