Have you heard anything about the Eurasian Economic Union?
Customs union of the member states of the Eurasian Economic Union
Currently, the union includes five countries, namely
- Russia
- Belarus
- Kazakhstan
- Armenia
- Kyrgyzstan
Within the framework of the union between the member states, the trade zone free of customs duties or any other payments operates
The strengths of the customs union include :
Free trade within the borders of the Union
The transported goods have the status of goods of the customs union and are exempt from customs duties
Partial cancellation of non-tariff regulatory measures
Simplification of customs clearance and customs non-declaration
The possibility of electronic accounting of transported goods
Competitive prices due to the absence of customs duties and expenses related to the certification of goods
Reduction of the time period for shipment of goods