Thursday, April 13 2017 14:37

ArmInfo. The signing of the  Agreement on the Customs Code of the Eurasian Economic Union (EEU)  was completed. The countries of the EEU are proceeding to internal  procedures prior to the ratification of the document. The new Customs  Code will come into force after the Eurasian Economic Commission  (EEC) receives notifications of ratification of the Agreement from  all five participating countries.

The Customs Code of the EEU is one of the main documents of the legal  framework of the Union. The Treaty on the Eurasian Economic Union  states that customs regulation is carried out in accordance with the  Customs Code of the EEU. It will replace the existing Customs Code of  the Customs Union and international agreements on customs regulation,  which were concluded in the formation of the legal framework for the  early stages of economic integration - the Customs Union and the  Common Economic Space.

The Customs Code of the EEU will increase the level of unification  and harmonization of customs regulation in the Union. "Now many  processes will be automated," Tigran Sargsyan, Chairman of the Board  of the Eurasian Economic Commission, believes. Communication of  entrepreneurs and Customs officers will be reduced to a minimum.  Representatives of our business eagerly awaited the document. After  the entry into force of the Customs Code, we expect a significant  improvement in the business climate in the EEU."

The document legislatively fixes the transfer of the system of  customs administration of foreign economic activity in the Union from  "paper" to electronic technologies. Such an approach will  significantly save the resources of the business, accelerate the  process of passing customs formalities, and also actually exclude  "human factor" in decision-making at all stages - from registration  of the declaration to release of goods.

Work on the new CC was conducted for three years. The Customs Code of  the EEU was the first agreement in the legal framework of the Union,  which at all stages was developed jointly by the Commission, state  bodies and business communities of all five participating countries.  Previously, business was involved in documents of this level already  at the stage of domestic coordination.