/ / News

EEU treaty to provide for transition period for exemptions

MINSK, 25 October (BelTA) – The Treaty on the Eurasian Economic Union that is under development will provide for a transition period for the exemptions, First Vice Premier of Russia Igor Shuvalov told media in Minsk on 25 October, BelTA has learnt.

According to Igor Shuvalov, the Presidents of Russia, Belarus and Kazakhstan agreed that the document would consist of two parts, one of them fully dedicated to the economy. “We have agreed to put the formula “without exemptions and restrictions as from 1 January 2015” on halt. By 1 March 2014 we are set to compile a list of exemptions on which transition periods will be introduced, and the deadlines for the validity of these exemptions,” the Russian official said.

The agreement will take effect on 1 January 2015. It will preserve the exemptions and will provide for the transition periods and deadlines for their operation. It is a serious issue, and its discussion at the presidential level was detailed,” Igor Shuvalov said. The official also noted that some exemptions may remain in place forever.