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Belarus to ratify Treaty on Eurasian Economic Commission 28 November

MINSK, 25 November (BelTA) - Belarusian MPs plan to ratify Treaty on the Eurasian Economic Commission (EEC) at the next meeting of the House of Representatives on 28 November, BelTA learnt from the press service of the House of Representatives.

The bill on the ratification of the Treaty on the EEC was introduced in Parliament by the President of Belarus as the single economic space becomes operational on 1 January 2012.

Under the Treaty, the Commission of the Customs Union will cease to exist after relevant domestic procedures and in fact will be absorbed by the EEC. The Eurasian Economic Commission will have more than 170 authorities and functions. The Commission will be two-level. The Council will be composed of one representative from each State at the level of Deputy Chairman of the Government. The Board of the Commission is a permanent professional executive body. The Board will consist of nine members (three from each country).

The share of Belarusian representatives in the commission will make up 6%. Kazakhstan will take a 10% representation in the commission while Russia will hold 84%.

The Eurasian Economic Commission will follow the principles of equality and transparency. Decisions are to be taken by consensus. Belarus has also suggested a rotation of the chairpersons of the Board. The document envisages the transformation of the EurAsEC Interstate Council into the Supreme Eurasian Economic Council at the level of heads of state and government.