Approved by the Decision of the Supreme Council of Community of Belarus and Russia of June 17, 1996 No. 3

Regulations on Executive Committee of Community of Belarus and Russia

I. General provisions

1. The executive committee of Community of Belarus and Russia (respectively the Executive committee and Community hereinafter are referred to as further) is created for the purpose of forming of the Community which is deeply integrated politically and economically and the organization of practical work on agreement performance about formation of community of Belarus and Russia of April 2, 1996 (the Agreement hereinafter is referred to as further).

2. The executive committee is permanent executive body of Community and is accountable to the Supreme Council of Community (the Supreme Council hereinafter is referred to as further).

The executive committee holds the meetings as required, but at least once a month.

3. In the activities the Executive committee is guided by the Agreement, decisions of the Supreme Council and this Provision.

II. Main activities of Executive committee

4. The executive committee concentrates the activities on the following main directions:

creation of equal conditions for increase in level of living and spiritual development of citizens;

ensuring combination of material and intellectual potential of agreement parties for the purpose of rise in their economy;

support of entrepreneurship, creation of equal opportunities for free economic activity of business entities, elimination of any interstate barriers and restrictions;

development and implementation of joint programs.

III. Main functions of Executive committee

5. The executive committee provides implementation of the following functions:

forming of single regulatory framework;

holding the actions directed to unification of monetary, taxation and budget systems;

development and implementation of measures, creating conditions for introduction of general currency;

monitoring of state of the economy and course of economic reforms;

ensuring synchronization of stages, terms and depth of the undertaken economic reforms;

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