Kyrgyz parliament adopts more draft laws on joining Customs Union

The 10 drafts laws passed by the parliament of the Central Asian country involves aspects such as licensing system, foreign trade commodity list, free economic zones, customs regulation, customs tariffs. The draft laws still await signature of President Almazbek Atambayev before they take effect.

In early October, the Kyrgyz parliament approved the first package of bills, including 16 draft laws and regulations to pave the way for entering the Customs Union, which currently groups Russia, Belarus and Kazakhstan. On May 29, leaders of Russia, Kazakhstan and Belarus signed the Treaty on the Eurasian Economic Union (EEU), in Astana, the capital of Kazakhstan, which symbolizes a new stage of the Eurasian integration process. The Treaty, which aims to create a necessary legal framework for the establishment of the EEU, will take effect from Jan. 1, 2015, Xinhua reports. The EEU, built based on the Customs Union of Russia, Belarus and Kazakhstan, is designed with the mission to increase economic cooperation within the member states as they agree to guarantee the free flow of goods, services, capital and labor and to implement a coordinated policy in the energy, industrial, agricultural and transport sectors. Kyrgyzstan is expected to sign a treaty on its accession to the Customs Union and the Eurasia Economic Union on Dec. 23.