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Agreement on EAEC Customs Code Ratified
The new Code is designed to optimize customs operations and continue the liberalization and standardization of customs regulations within the EAEC. The Code regulates, in particular, the procedure and conditions for the movement of goods across the customs border of the Union, the procedure for their arrival and use within the Union or abroad, and the procedure for making customs payments.
This codified act will come into force after the Eurasian Economic Commission receives notifications of treaty ratification from all five participating countries: Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan. It is expected to come into force in early 2018. A number of international treaties, including the Customs Code of the Customs Union, will then lose force.
Russia's part was completed with Federal Law No. 317-FZ of November 14, 2017 "On Ratification of the Agreement on the Customs Code of the Eurasian Economic Union."
Translated by Alinga Consulting Group.
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