Armenia’s Eurasian Economic Union accession may be debated by July 1

PanARMENIAN.Net - Russia, Belarus, and Kazakhstan have signed the historic Eurasian Economic Union deal which will come into effect in January 2015. Cutting down trade barriers and comprising over 170 million people it will be the largest common market across CIS states, RT reported.

"The just-signed treaty is of epoch-making, historic importance," Russian President Vladimir Putin said.

The troika of countries will cooperate in energy, industry, agriculture, and transport.

"In fact, we are shaping the largest common market in the CIS, with huge production, scientific and technological potential and enormous natural resources," the President added.

Citizens of Russia, Belarus, and Kazakhstan will have the right to work freely throughout the member states without having to be issued any special work permits, Putin said.

Over the last three years, trade within the Customs Union has increased by $23 billion, or nearly 50 percent. At the end of 2013, it stood at $66.2 billion.

Kazakhstan President Nursultan Nazarbayev suggested considering of Armenia’s accession to the Union by July 1.

Earlier, President Serzh Sargsyan asked to set a date for Armenia's accession to the Eurasian Economic Union before June 15, according to ITAR-TASS.

"I am asking for setting a date for signing a document on the Republic of Armenia's accession to the Treaty on the Eurasian Economic Union before June 15 of this year," Sargsyan said at a meeting of the Supreme Eurasian Economic Council in Astana on Thursday, May 29.

"I understand that this time is very limited, but, in case of our readiness, I am sure we can find mutually acceptable solutions that would suit both us and our partners in two or three days," Sargsyan said.