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Agreement on the Customs union and Common economic space

of February 26, 1999

The State Parties of this Agreement which are hereinafter referred to as by the Parties;

Being guided by the Contract between the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic and the Russian Federation on deepening of integration in economic and humanitarian areas of March 29, 1996 which further is referred to as with the Agreement of March 29, 1996 earlier signed agreements on its realization, and also considering the decisions made by governing bodies of integration;

Implementing the agreements signed between the Parties about free trade on single procedure for regulation of foreign economic activity, about the Customs union, about ensuring mutual convertibility and stabilization of the national currency rates, about prevention of double taxation and tax avoidance on the income and the capital;

Proceeding from the developed production and scientific and technological bonds, interdependence and complementarity of economies;

Performed determination to give new impulse to development of closer integration, rapprochement of economy of the State Parties for the purpose of social progress and improvement of welfare of the people;

Recognizing that elimination of the existing barriers and restrictions requires coordinated actions, harmonious development of the market relations of the states and creation of equal conditions and opportunities to business entities;

Confirming the friendship connecting the states and the people, wishing to provide their prosperity, based on the principles of Articles of organization of the United Nations, the Charter of the Commonwealth of Independent States, the Agreement on creation of Economic union of September 24, 1993, regulations and the principles of international law;

Considering the aspiration of the Parties to become members of the World Trade Organization;

Respecting sovereignty, territorial integrity of the states and guaranteeing non-interference to internal affairs;

Expressing determination to complete the formation of the Customs union and to create the Common economic space, agreed as follows:

Chapter I. Concepts and terms

Article 1

For the purposes of this Agreement, the stated below concepts and terms have the following value:

1) the Common economic space - the space consisting of the territories of the Parties on which the same mechanisms of regulation of economy based on the market principles and application of the harmonized precepts of law function exists single infrastructure and the approved tax, monetary, monetary, trade and customs policy, the providing free movement of goods, services, the capital and labor power is carried out;

2) single customs area - the territory consisting of customs areas of the Parties in relation to which the Parties establish the General customs tariff single measures of non-tariff regulation are applied, the unified customs rules are effective, the unity of management of Customs Services is provided and customs control on internal customs border is cancelled;

3) the total (internal) market - set of the economic relations on single customs area;

4) general customs tariff - the approved list of single rates of the import customs duties applied to the goods imported on customs areas of the State Parties of the Customs union from the third countries systematized according to the Single commodity nomenclature of foreign economic activity of the Commonwealth of Independent States;

5) internal customs border - the limits of customs area of each of the Parties which are at the same time limits of customs area of other Party;

6) external customs border (external perimeter) - the limits of single customs area of the State Parties of the Customs union dividing the territories of these states and the territory of the states which are not entering into the Customs union;

7) indirect taxes - the value added tax and excises to goods and services.

Chapter II. General provisions

Article 2

In accordance with the terms hereof the Parties assume liability to complete the formation of the Customs union and to create the Common economic space on its basis.

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