Sessions of EurAsEC Interstate Council and Supreme Eurasian Economic Council

Sessions of the EurAsEC Interstate Council and the Supreme Eurasian Economic Council at the level of the heads of state took place in Minsk.

The presidents signed the agreement on the termination of the EurAsEC activity.

According to President of Belarus Aleksandr Lukashenko, the EurAsEC was a success; the parties have gone a long and difficult way of integration. “The main thing is that the EurAsEC was a foundation for the establishment of the Customs Union and the Single Economic Space which, in turn, have laid the foundation of the future Eurasian Economic Union,” the Belarusian head of state said. “Therefore, the today’s decision to change the format of our interaction is an adequate reflection of modern integration trends in the post-Soviet space.”

The EurAsEC will cease to exist on 1 January 2015 in connection with the launch of a more advanced integration association – the Eurasian Economic Union.

The President of Belarus stressed that a new powerful economic center has appeared on the map of the world - the Eurasian Economic Union.

“Today we are holding our session in the context when the Eurasian Economic Union has occupied de facto its niche in the world economy and even political agenda. We are completing de jure the creation of the largest market in the Eurasian space,” the Belarusian leader said.

Aleksandr Lukashenko noted that Belarus, Kazakhstan, and Russia have informed the international community about the almost simultaneous ratification of the EEU Treaty by the parliaments. The EEU Treaty comes into effect on 1 January 2015.

The heads of state also signed an agreement on Armenia’s accession to the Eurasian Economic Union.