Statement by Alexander Lukashevich, official representative of the Ministry of Foreign Affairs of Russia, regarding Russia’s ratification of the Eurasian Economic Union Agreement
On October 3, the President of Russia, Vladimir Putin, signed the Federal Law on Ratification of the Eurasian Economic Union Agreement.
According to Article 113 of the Agreement, it comes into effect upon the receipt by the depository – the Eurasian Economic Commission – of the last written notice of completion of the required domestic procedures by the member states.
The launch of the Eurasian Economic Union will be a transition to a new level of integration and create conditions for shaping additional sources of economic growth and the comprehensive modernisation of the economy by the Union’s members, for increasing their competitiveness in the global economic market. The Eurasian Economic Union is based on the Customs Union and the Common Economic Space of Russia, Belarus and Kazakhstan as an international organisation for regional economic integration that exercises international legal standing. The Union is open to any new member that shares its goals and principles.