After the Treaty enters into force, Armenia will join the Eurasian Economic Union as of 2 January 2015. The enactment of the Treaty will also make it possible to launch the process of reducing exemptions and restrictions, including barriers, and providing mutual access of entrepreneurs to the markets of countries that are parties to the Treaty.
Reference
The draft federal law, Ratification of the Treaty on the Accession of Armenia to the Eurasian Economic Union of 29 May 2014, hereinafter referred to as Treaty, was submitted by the Russian Ministry of Foreign Affairs and the Ministry of Economic Development.
The Treaty on the Accession of Armenia to the Eurasian Economic Union is a core document setting forth the agreements of the Russian Federation, the Republic of Belarus and the Republic of Kazakhstan on specific terms for admitting the Republic of Armenia to the EAEU and falls under the law of the EAEU, instituted by the Treaty on the Eurasian Economic Union of 29 May 2014.
After the Treaty enters into effect, Armenia will join the EAEU starting 2 January 2015. The enactment of the Treaty will also make it possible to launch the process of reducing exemptions and restrictions, including barriers, and providing mutual access of entrepreneurs to the markets of countries that are parties to the Treaty. Thereby a foundation is being created for the subsequent development of trade and economic ties and co-production arrangements, for increasing the competitiveness of national production facilities and strengthening the positions of the EAEU member-countries on global markets.
Under Federal Law No. 101-FZ of 15 July 1995, International Treaties of the Russian Federation, this Treaty is subject to ratification after signing, as it stipulates regulations that are different from those contained in Russian legislation.
The document was reviewed and approved at a Russian Government meeting on 20 November 2014.