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The EAEU member states are beginning the process of ratification of the Customs Code Treaty

The EAEU member states are beginning the process of ratification of the Customs Code Treaty

4/13/2017

On April 11, the phase of signing the Treaty on the EAEU Customs Code was completed. The member states start some in-house procedures which are necessary prior to ratification of the document. The new Customs Code will come into force after the Eurasian Economic Commission receives notification about ratification of the Treaty from all of the 5 member states.

The EAEU Customs Code is one of the major documents of the Union’s regulatory framework. As stipulated by the Treaty on the EAEU, the customs regulation is provided in compliance with the EAEU Customs Code. This document will replace the applicable Customs Code of the Customs Union and some international agreements covering the customs regulation. These agreements were part of legislative framework established at an early stage of economic integration - Customs Union and Single Economic Space.

The EAEU Customs Code will contribute to harmonization and alignment of the customs regulation within the EAEU territory. As Tigran Sargsyan, the EEC Board Chairman, believes “now many processes will be automated. Direct contacts between representatives of business and customs officers will be minimized. The market players in our business have been looking forward to adopting such a document. After the EAEU Customs Code will come into force, we expect the business climate in the EAEU to improve significantly.” 

This document brings a legitimate ground for the transition of customs administration system from 'paperwork' to E-based technologies. This approach will help to save business resources significantly, speed up passing customs formalities and will actually minimize so-called 'human factor' while taking decision at all levels - from customs declaration to the goods release. 

It took 3 years to work out the new Customs Code. The EAEU Customs Code is the first document in the EAEU regulatory framework which is a result of cooperative effort of the Commission, state agencies and business communities of all of the 5 member states, at all levels of preparation. Representatives of private business used to be involved in preparation of documents like this only at the stage of inter-state approval.