Updated at 16:11,02-12-2016

Eurasian Economic Commission Established in Moscow

Belarus, Russia and Kazakhstan established the Eurasian Economic Commission (EEC). Relevant documents were signed by the presidents of three countries Alexander Lukashenko, Dmitri Medvedev and Nursultan Nazarbayev at a ceremony in the Kremlin on December 19.

"We have now created the first truly supranational body to deal with the integration. We have created the Eurasian commission, which is the most important step in the formation of the Eurasian economic space and then the Eurasian Economic Union", the Russian leader said, RIA Novosti reports

Meanwhile, one of the members of the Belarusian delegation accompanying Alexander Lukashenko noted that the EEC will make decisions to ultimately affect the functioning of key aspects of the three countries' economies – those of Belarus, Kazakhstan and Russia, BelTA informs.

At a ceremony in the Kremlin on December 19, the leaders of Belarus, Russia and Kazakhstan signed the Protocol on Amendments and Additions to an agreement on some matters of customs duties and taxes in respect of goods transported under the customs procedure of customs transit, customs duties, taxes and order of listing the recovered amounts from May 21, 2010. In addition, the agreement was signed on countering the legalization (laundering) of proceeds from crime and financing terrorist in the movement of cash and (or) monetary instruments across the customs border of the Customs Union.

In addition, decisions were made on "Appointment of Chairman of the Board of the Eurasian Economic Commission, on approval of personnel composition and distribution of responsibilities among members of the board of the Eurasian Economic Commission."

The size of the Eurasian Economic Commission departments was also decided upon.

Earlier, a Kremlin source said that the EEC could be authorized to control "manual integration processes in the CU and CES format." Commission will gradually gain the national authority.

Thursday, December 8, at a meeting of the seventh session of the Council of the Republic of Belarus, the senators ratified the agreement of the Eurasian Economic Commission. Members of the House of Representatives ratified the bill back on November 28. This document defines the EEC functions.