Nazarbayev, Putin and Lukashenko sign Eurasian Economic Union Agreement

Astana. May 29. Silkroadnews – Kazakh President Nursultan Nazarbayev, Russian President Vladimir Putin and Belorussian President Alexandr Lukashenko signed the agreement on creation of Eurasian economic Union at the working session of the High Eurasian Economic Council.
Eurasian Economic Union is to officially come into being on the 1st of January 2015. The main aims of its creation are to form a common market, to enable free movement of goods, services, investment and labour, to conduct coordinated economic policy.
Supranational bodies of Eurasian Economic Union are to be adhering to “1 country-1 vote” principle”. The senior positions at Eurasian Economic Commission, Council and Collegiate bodies will be held by the equal number of representatives of each member-state.
The GDP is projected to grow by USD 900 bln by 2030, as a result of this integration.
Eurasian Economic Union headquarters are to be situated in Moscow, its Court – in Minsk and its Financial Authority – in Almaty.