The Eurasian Economic Commission (EEC) is the permanent regulatory body of the Eurasian Economic Union (EAEU). It started work on February 2, 2012.
The main purpose of the Eurasian Economic Commission is ensuring the functioning and development of the EAEU, and developing proposals for the further development of integration.
Currently there are five EEC countries: The Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic and the Russian Federation. The EEC has supranational regulatory body status and its activity is guided by the interests of the participating countries of the Eurasian Economic integration project in general, not motivating its decisions by any interests of national Governments. Decisions of the Commission are obligatory for execution on the territory of the EAEU Member States.
The basis of the decision to establish the EEC lies in the understanding that the five countries together will not only be able reduce the negative impacts of global instability, but also actively position themselves in foreign markets. The Eurasian Economic Union is open to other States that share the goals of this Association and are ready to assume the required obligations.
The most important feature of the Commission lies in the fact that all decisions are based on a collegial basis. The Board of the Eurasian Economic Commission consists of 10 members (2 Members (Minister) from each Member State), one of whom is the Chairman of the Commission Board.
The Chairman of the Board and the members of the Board are appointed for a term of 4 years by the decision of the Supreme Eurasian Economic Council at the level of Heads of State with a possible extension of term of office. The Members of the Board adopt decisions by voting.
The EEC’s activities are divided into functional areas that are supervised by members of the Board (Ministers). Each area is a block from the industrial and economic sectors. The Members of the Board and EEC departments interact with the authorised national authorities within the area of their activities.
There are currently 23 Departments in operation in the EEC structure. Within them, there are 20 Advisory committees that have the aim of developing proposals for the EEC Board and holding consultations with representatives of the national state authorities. The Chairmen of the Committees are the Members of the Board (Ministers) according to their areas of activity.
The Commission supports inclusive dialogue with key partners in its work. The first level of dialogue is interstate, which envisages the forming of effective interaction with national authorities in the process of developing and adopting decisions. The second level of dialogue is working directly with the business community.
The main professional principles of the EEC’s activities are non-politicization, balance of interests, efficiency and transparency.
The EEC is active in the international arena with the aim of presenting the activities of the Eurasian community and attracting key partners from the European and Asia-Pacific regions to participate in integration processes.
The Main Areas of Activity of the Eurasian Economic Commission:
- assignment and distribution of import customs duties;
- establishment of trade regimes for third parties;
- statistics of foreign and mutual trade;
- macroeconomic policy;
- competition policy;
- industrial and agricultural subsidies;
- energy policy;
- natural monopolies;
- state and/or municipal procurement;
- mutual trade in services and investments;
- transport and transportation;
- monetary policy;
- security and protection of intellectual property and the means of branding goods, works and services;
- labour migration;
- financial markets (banking, insurance, the currency market, the securities market);
- customs tariff and non-tariff regulations;
- customs administration;
- information and communication technologies;
- and others.