The agreement on functioning of the Customs union within multilateral trade system

of May 19, 2011

The Republic of Belarus, the Republic of Kazakhstan and the Russian Federation which further are referred to as Parties

being members of the Customs union created by them,

confirming aspiration of the Parties to the fastest accession on the coordinated conditions to the World Trade Organization which further is referred to as the WTO

recognizing that membership of each of the Parties in the WTO will create favorable conditions for deepening of their integration into the international trade system and effective functioning of the Customs union according to rules and obligations within the WTO,

confirming need and benefits of unification and uniform application of trade regimes of the Parties concerning the third countries for the purpose of development of trade and investment attraction,

considering universal nature of the WTO on the list of her participants and scope of questions of regulation of international trade,

noting the high requirements to her members established in the WTO concerning compliance to the Marrakesh agreement on WTO organization (further referred to as as the Agreement of the WTO), and also obligations assumed by each member,

recognizing need of interpretation of trade regimes of the Parties of the Customs union in the context of the Agreement of the WTO,

agreed as follows:

Article 1

1. From the date of accession of the either party to the WTO of provision of the Agreement of the WTO as they are determined in the Protocol on the accession of this Party to the WTO including the obligations undertaken as condition of its accession to the WTO and relating to legal relationship which powers on regulation within the Customs union are delegated by the Parties to bodies of the Customs union and to the legal relationship settled by the international agreements constituting the contractual legal base of the Customs union become part of system of law of the Customs union. At the same time the first Party joining the WTO shall inform other Parties and coordinate with them actions concerning adoption of the obligations as condition of its accession requiring modification of system of law of the Customs union.

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