Kazakhstan Parliament ratified Contract on Customs Union Commission
Senate deputies passed the Law on ratification of the Contract on Customs Union Commission at the plenary session on Tuesday, the agency reports.
Astana. June 4. Kazakhstan Today - Senate deputies passed the Law on ratification of the Contract on Customs Union Commission at the plenary session on Tuesday, the agency reports.
Thus, the law has been accepted by the Parliament and is forwarded to the President to be signed into law.
As it was informed earlier, the contract provides establishment of the Customs Union Commission as uniform permanently operating regional body of the customs union. The primary goal of the Commission is maintenance of conditions of functioning and development of the customs union.
The commission executes the decisions accepted by the supreme body of the customs union, carries out monitoring of fulfillment of contracts on formation of the customs union, provides realization of international contracts within the limits of its powers, assists the parties in regulation of disputes within the customs union up to appeal to EurAsEC court.
The decision of the Commission has a binding character for the parties.
According to the Contract, votes between the parties in the Commission are distributed as follows: Belorussia - 21.5 %, the Republic of Kazakhstan - 21.5 %, and the Russian Federation - 57 %.
The Contract was signed by the leaders of Belarus, Kazakhstan and Russia on October 6, 2007 in Dushanbe.
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