Eurasian Economic Union started the implementation of the new customs law
- Author:James
- Source:Xinhua
- Release Date:2018-01-05
The new customs law of the Eurasian Economic Union, which came into effect on January 1. The new law aims to introduce digital technology to simplify customs clearance procedures in member states and stimulate exports.
The Eurasian Economic Commission, the supreme authority of the Eurasian Economic Union, said that the new customs law will become one of the fundamental legal documents of the Eurasian Economic Union and aims at improving the standardization and consistency among member states in the field of customs mediation. The foundation is the transition to electronic customs declaration, the transition to "one window", the improvement of the conditions for foreign economic activities and the stimulation of exports.
According to the agreement, the customs legislation of all member states needs to be linked with the new customs law.
Eurasian Economic Union was formerly the Customs Union established by Russia, Belarus and Kazakhstan in 2010. The Eurasian Economic Union was officially launched on January 1, 2015 and its members include Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan The goal of the coalition is to achieve free movement of goods, services, capital and labor within the Union by 2025 and to promote coherent economic policies.
Russia and Belarus signed the customs law in 2009 and the Treaty on Eurasian Economic Cooperation in the year of 015 entered into force. As both Asia and Kyrgyzstan join in, it is imperative to formulate a new customs law.
The Eurasian Economic Commission, the supreme authority of the Eurasian Economic Union, said that the new customs law will become one of the fundamental legal documents of the Eurasian Economic Union and aims at improving the standardization and consistency among member states in the field of customs mediation. The foundation is the transition to electronic customs declaration, the transition to "one window", the improvement of the conditions for foreign economic activities and the stimulation of exports.
According to the agreement, the customs legislation of all member states needs to be linked with the new customs law.
Eurasian Economic Union was formerly the Customs Union established by Russia, Belarus and Kazakhstan in 2010. The Eurasian Economic Union was officially launched on January 1, 2015 and its members include Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan The goal of the coalition is to achieve free movement of goods, services, capital and labor within the Union by 2025 and to promote coherent economic policies.
Russia and Belarus signed the customs law in 2009 and the Treaty on Eurasian Economic Cooperation in the year of 015 entered into force. As both Asia and Kyrgyzstan join in, it is imperative to formulate a new customs law.