Lower House of Parliament passes bill on ratification of the Agr’t on termination of EurAsEC

11:46, 18 December 2014

ASTANA. KAZINFORM - Today's Majilis plenary session has approved the draft law "On ratification of the Agreement on the termination of the Eurasian Economic Community".

Minister of Foreign Affairs of Kazakhstan Erlan Idrissov, presenting the bill, said that the agreement was signed on 10 October of the current year by the heads of EurAsEC member-states in Minsk. "The EurAsEC has fulfilled an important mission ensuring the progress of Eurasian integration. The EurAsEC was a foundation for the establishment of the Customs Union and the Single Economic Space which, in turn, have laid the foundation of the Eurasian Economic Union. Secondly, there is no need for the existence of two organizations that duplicate each other's functions in the same space," said E. Idrissov. According to his words, the EurAsEC will cease to exist on 1 January 2015 in connection with the launch of a more advanced integration association - the Eurasian Economic Union.

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