DECISION OF INTERSTATE COUNCIL EURASEC

of June 23, 2006 No. 305

About the Budget message of Interstate Council of Eurasian economic community "About Budget Policy for 2007"

Interstate Council of Eurasian economic community (at the level of heads of states) solved:

1. Accept the Budget message of Interstate Council of Eurasian economic community "About Budget Policy for 2007" it (is applied).

2. To bodies of EurAsEC in the activities in 2007 to be guided by provisions of this document.

Budget message of Interstate council of Eurasian economic community "About Budget Policy for 2007"

This Budget message is developed according to procedure for forming and budget implementation of Eurasian economic community (further - Communities) and contains the main directions of budget and economic policy for 2007 and the main results in the field of budget policy in 2005 and the beginning of 2006.

The main results of realization of budget policy of EurAsEC in 2005 and the beginning of 2006

Integration processes in EurAsEC exert positive impact on development of national economy of all states of his members.

In general in 2005 state of the economy of state members of Community was characterized by growth continuation (though a little slow rates in comparison with 2004), stabilization of inflation and increase in the income of the population. Practically all main indicators of economic and social situation both on Community in general, and on each state member of EurAsEC improved (exception on separate indicators - the Kyrgyz Republic).

The gross internal product in 2005 in comparison with 2004 on average on EurAsEC grew on 6, %, amount of industrial output - by % 4,1, amount of agricultural products - on % 2,1. The amount of mutual trade in goods of state members of EurAsEC in 2005 made 54, 1 billion US dollars and in comparison with 2004 grew by % 0,5, including export - on % 1,5, import decreased - on % 0,4.

In 2005 in the EurAsEC countries the income of government budgets exceeded expenses (The Republic of Belarus and the Republic of Tajikistan allow minor deficit of republican budgets in the amount of % 0,2 to GDP, consolidated budgets respectively - 0,7 of % and 0,3 of % to GDP), the national currency rates in relation to US dollar were supported at rather steady level.

Activities of bodies of EurAsEC in 2005 were performed according to the Priority directions of development of EurAsEC on 20032006 and the next years and Actions for their realization and went to the solution of priorities of development of Community.

For the purpose of rapprochement of levels of economic development of state members of Community the Procedure for approval of the main macroeconomic indicators of development of economies of state members of EurAsEC is approved.

For assistance in development of strategy and tactics of development of Community and realization of the purposes and tasks of EurAsEC on key questions of economy and finance Council for financial and economic policy of state members of EurAsEC is created.

Development of the international legal basis for completion of process of forming of the Customs union, the solution of the questions of development of Community including relating to stage of the Common economic space was rather dynamically conducted.

The Agreement on bases of harmonization of technical regulations of state members of EurAsEC is signed.

Work on forming of single measures of non-tariff regulation, including on standardization of legislations of state members of Community in the field of export control, application of quantitative restrictions concerning the third countries, technical regulation was continued.

Work on standardization of rules and procedures of customs clearance and customs control of goods and vehicles, simplification of customs clearance and customs control on internal customs borders was carried out.

For the purpose of ensuring economic safety on external borders of state members of EurAsEC the Joint target Program for arrangement of check points on external borders of the State Parties of the Customs union for 2001-2005 was implemented.

Working interaction with the World Customs Organization (WCO) continued. The Resolution on activation of work of Customs Services of state members of EurAsEC with the WTO within the International convention about the Harmonized commodity description and coding system is adopted.

Transition to single rules of collection of indirect taxes in trade between state members of EurAsEC - collection of the VAT on the country of destination is performed.

Minimum rates of excises on ethyl alcohol and alcoholic products in the Basic list of excise goods of state members of EurAsEC are approved.

The Concept of cooperation of state members of EurAsEC in the currency sphere is accepted. In development of its provisions the Agreement on cooperation in the field of the organization of the integrated foreign exchange market of state members of EurAsEC which will promote expansion of the sphere of use of national currencies for servicing of foreign economic activity of state members of EurAsEC is signed.

Work on forming of total energy market and rational use of potentials of fuel and energy complexes of the countries of Community for the maximum ensuring the needs of national economies for energy resources was continued. The construction of Sangtudinsky GES-1 and the first priority of Rogunsky hydroelectric power station in the Republic of Tajikistan which are important for development of economy of the Central Asian region is begun.

The Agreement on joint development of the fuel and energy balance (FEB) of state members of EurAsEC which purpose is creation of the legal basis for creation of TEB of the countries of Community and preparation of offers on the maximum ensuring the needs of the domestic markets for energy resources is accepted.

The Agreement on carrying out coordinated policy on forming and development of transport corridors of Eurasian economic community which is directed to effective use of transit potential of state members of EurAsEC is accepted. The List of transport routes of Eurasian economic community is approved.

For the purpose of implementation of financing of investment projects and programs on Eurasian space Eurasian Development Bank is created.

Key event for Eurasian economic community was acceptance of the Republic of Uzbekistan in associates and integration of OTsAS into EurAsEC. In January, 2006 at emergency meeting of Mezhgossovet of EurAsEC the documents which are legally drawing up membership of the Republic of Uzbekistan in Community, and also the decision on legal registration of integration of OTsAS into EurAsEC are signed.

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