Treaty on the establishment of anti-crisis fund to be signed with Armenia's participation

PanARMENIAN.Net - Russian premier Vladimir Putin will today take part in the sessions of EurAsES interstate union and Customs Unions. "Attention at EurAsEC (Russia, Belarus, Kazakhstan, Kyrgyzstan and Tajikistan) meeting will be focused on stepping up collective anti-crisis efforts in the trade and economic fields," runs statement released by Russian government.

Treaty on the Establishment of an Anti-Crisis Fund (ACF) will very probably be signed with Armenia's participation. The agreement with Eurasian Development Bank envisages management of ACF Resources.



Fund resources will be used for granting sovereign loans and stabilisation credits to the member-countries, as well as financing interstate investment projects. Russia's share constitutes the bulk of the authorised capital of ACF - $7,500 million out of $10,000 million.



Besides, EurAsEC's Center for High Technologies (CHT) is to begin its work in 2009. The main goal of the CHT is to promote the development of scientific, technical, and innovations-related activities.



"A number of documents are to be adopted and immediate tasks aimed at establishing a Customs Union in the three-country format are to be mapped out within the scope of the Supreme Body of the Customs Union with the participation of Russia, Belarus, and Kazakhstan. The documents to be adopted include an Agreement on a Procedure for the Introduction and Application of Measures Concerning Foreign Trade in Commodities, within a common customs territory with regard to third countries, and an Agreement on Licensing Rules," RF Government's press service goes on to say.

Russian and Belarusian Foreign Ministers are scheduled to meet in Moscow. The two countries exacerbated their relations because of Russian embargo on the import of about 500 brands of dairy products.



EurAsES is an international economic organization whose basic functions include establishing common foreign trade borders among state parties, as well as fixing tariffs, prices etc. Beginning 2002, Moldova and Ukraine were observer states within the organization. In 2003, observer status was granted to Armenia.