30.04.2008, 15:28 6025

Majilis approved bill on ratification of Contract of Customs Union Commission

Majilis approved bill on ratification of Contract of Customs Union Commission

Astana. April 30. Kazakhstan Today - Today at the plenary session Majilis deputies approved the project of the law on ratification of the Contract on Customs Union Commission, the agency reports.

"The contract provides establishment of the Commission of Customs Union as the uniform and permanently operating regional body of Customs Union. The primary goal of the Commission is maintenance of conditions of functioning and development of Customs Union," the conclusion of the Majilis Committee for International Affairs, Defense and Security states.

The commission "executes the decisions accepted by the supreme body of the Customs Union, monitors realization of agreements on formation of the Customs Union, provides realization of the international contracts, and assists the parties in regulation of disputes within the limits of 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 have been distributed as follows: Belorussia - 21.5 %, Kazakhstan - 21.5 %, the Russian Federation - 57 %.

The contract was signed by the leaders of the states of Belarus, Kazakhstan and Russia on October 6, 2007 in Dushanbe.

The bill has been forwarded to the Senate.

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