Kyrgyzstan Joins Eurasian Economic Union

May 27 2015 - 10:50

On May 21, Kyrgyzstan’s President Almazbek Atambayev signed the law ratifying treaties on Kyrgyzstan’s entry into the Eurasian Economic Union (EEU).

Kyrgyzstan will officially become the fifth member of the EEU, alongside Russia, Kazakhstan, Belarus and Armenia after the accession treaty is ratified by the parliaments of the other members.

Most Kyrgyz officials claim that joining the union, a single market for the free movement of goods and services, will strengthen the economy, decrease unemployment, improve Kyrgyzstan’s agricultural sector and trade with EEU members, but retailers and importers are concerned about the higher customs tariffs and stricter regulations for products coming from the countries outside the EEU.

Prepared by: Masa Lopcic, Jelena Jankovic

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Source: The Diplomat, Radio Free Europe

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