Armenia govt. OKs common EAEU system for customs transit

PanARMENIAN.Net - The Armenian government on Thursday, March 14 approved an agreement on a common system for customs transit between EAEU and third countries.

According to the proposal, the practical implementation of the Agreement on the CSCT after its adoption will simplify and optimize the transportation procedure, both by minimizing the actions of regulatory services and by reducing business overhead costs.

This will be achieved through the use of a single transit declaration in the form of an electronic document; the application of common security for fulfilling the obligation to pay customs duties, taxes, special, anti-dumping and countervailing duties; and the use of certain special simplifications granted to authorized economic operators of the Union and third parties. Besides, these objectives will be achieved through the use of navigation seals for monitoring the transportation of goods along the entire route of transported (shipped) goods under the customs procedure of customs transit through the Union's customs territory and the customs territories of third parties, as well as mutual recognition of decisions adopted by customs authorities and the results of customs control.

After approval by the Armenian government, the agreement will go to the Constitutional Court and Parliament.