CONTRACT BETWEEN THE REPUBLIC OF BELARUS, REPUBLIC OF KAZAKHSTAN AND RUSSIAN FEDERATION

of November 18, 2011

About the Eurasian economic commission

The Republic of Belarus, the Republic of Kazakhstan and the Russian Federation which are hereinafter referred to as by the Parties

based on the Constitutive treaty of Eurasian economic community of October 10, 2000 and the Agreement on creation of single customs area and forming of custom union of October 6, 2007,

being guided by the conventional principles and rules of international law,

proceeding from mutual interest in effective ensuring functioning and development of the Customs union and the Common economic space,

agreed as follows:

Section I. General provisions

Article 1

The parties establish the Eurasian economic commission (further - the Commission) as single permanent regulating authority of the Customs union and the Common economic space.

The main objective of the Commission is providing operating conditions and development of the Customs union and the Common economic space, and also development of offers in the field of economic integration within the Customs union and the Common economic space.

Article 2

The commission performs the activities on the basis of the following principles:

ensuring mutual advantage, equality and accounting of national interests of the Parties;

economic justification of the made decisions; openness, publicity and objectivity.

Article 3

The commission performs the activities within the powers provided by this agreement, international treaties creating the contractual legal base of the Customs union and the Common economic space and also decisions of the Supreme Eurasian economic council in the following spheres:

customs and tariff and non-tariff regulation; customs administration; technical regulation;

sanitary, veterinary and phytosanitary measures; transfer and distribution of import customs duties; establishment of trade regimes concerning the third countries; statistics of foreign and mutual trade; macroeconomic policy; competition policy;

industrial and agricultural subsidies; energy policy; natural monopolies;

public and (or) municipal procurements; mutual trade in services and investments; transport and transportations; monetarist policies;

protection and protection of results of intellectual activities and means of individualization of goods, works and services; labor migration;

financial markets (bank sphere, sphere of insurance, foreign exchange market, security market); other spheres.

Article 4

The commission consists of Council of the Commission and Board of the Commission. The procedure for activities of Council of the Commission and Board of the Commission is regulated by the Regulations of work of the Eurasian economic commission (further Regulations) approved by the Supreme Eurasian economic council at the level of heads of states

Within the activities the Commission has the right to form structural divisions (further - departments of the Commission), representative offices of the Commission in the Parties, according to the decision of the Supreme Eurasian economic council at the level of heads of states - in the third countries and their associations, and also under the international organizations.

The commission has the rights of the legal entity.

Article 5

1. The commission within the powers makes the decisions having binding character for the Parties and the recommendations which do not have binding character.

Decisions of the Commission are included into the contractual legal base of the Customs union and the Common economic space and are subject to direct application in the territories of the Parties.

2. Decisions and recommendations of the Commission are accepted by Council of the Commission and Board of the Commission within the powers established by this Agreement, and according to the procedure, provided by this agreement and the Regulations.

Differentiation of powers and functions of Council of the Commission and Board of the Commission is determined by Regulations.

3. If other is not provided by international treaties, decisions of the Commission become effective not earlier than after 30 calendar days from the date of their official publication.

The decisions of the Commission specified in Item 5 of this Article and also the decisions of the Commission made in exceptional cases, requiring rapid response can provide other term of entry into force, but at least 10 calendar days from the date of their official publication.

The procedure for acceptance and entry into force of the decisions of the Commission in exceptional cases requiring rapid response, and also decisions stipulated in Item the 5th this Article, is established by Regulations.

4. The decisions of the Commission worsening situation of physical and (or) legal entities have no retroactive force.

5. The decisions of the Commission improving provision of physical and (or) legal entities can have retroactive force if directly provide it.

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