Eurasian Economic Union could get WTO observer status in two years, says EEC chief

It could take the Eurasian Economic Union (EEU) approximately two years to be granted an observer status at the World Trade Organization (WTO), Chairman of the Board of the Eurasian Economic Commission (EEC),  the executive body of the EEU, Tigran Sargsyan said in an interview to TASS.

“First of all we must get the agreement of our countries, and then we will submit this proposal to the heads of states. After they will give consent, we will address the World Trade Organization. I believe this will take maximum two years,” he said.

Sargsyan emphasized that four of the five members of the EEU are full members of the WTO. This means that whenever there is a debate at the WTO on customs tariffs or any issues relating to mutual trade obstacles, these countries cannot undertake such negotiations on their own because this authority is vested in the EEC.

“Our countries, Kyrgyzstan, Armenia, also invite us to take part in those debates for the EEU’s general stance to be presented, because now they cannot make decisions on decrease or increase of tariffs. And because both Kyrgyzstan and Armenia have initially been members of the WTO, and then became participants of the EEU, certain issues arise here which require agreed decisions with all countries. And from this perspective, certainly, our participation in WTO debates will be productive and useful for all,” Sargsyan said.