Agreement on creation of economic union

of September 24, 1993

The State Parties of this Agreement which are hereinafter referred to as - Contracting Parties,

based on historical community of the people and understanding importance of expansion and deepening of the comprehensive and mutually beneficial economic relations,

respecting sovereignty of each state and confirming the commitment to the purposes and the principles of constituent documents on creation of the Commonwealth of Independent States,

aiming to provide favorable conditions for dynamic and harmonious development of economies and carrying out economic reforms for the benefit of increase in living standards of the population of the states,

understanding objective need of forming and development of the Common Economic Space based on free movement of goods, services, labor power and the capitals and also consolidations of direct connections of business entities of Contracting Parties,

understanding importance of technological interrelations of the high-integrated scientific and technical and potential productions of the states,

aiming to create conditions for organic inclusion of the economies in the world economy,

being guided by the universally recognized norms of international law,

agreed about creation of Economic union.

CHAPTER I. PURPOSES AND PRINCIPLES OF ECONOMIC UNION

Article 1

The economic union is created on the basis of voluntary participation, respect of sovereignty, territorial integrity, equal rights, and also the cross liability of Contracting Parties for implementation of provisions of this agreement.

In the activities Contracting Parties within Economic union are guided by the following international legal principles:

non-interference to cases of each other, respect of human rights and freedoms;

peaceful resolution of disputes and non-use of any kinds of economic pressure in the relations with each other;

responsibility for undertaken obligations;

exception of any discrimination on national and to other signs concerning legal entities and physical persons of Contracting Parties;

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