YEREVAN, JULY 8, ARMENPRESS. Member of the Board of the Eurasian Economic Commission, Minister in charge of Economy and Financial Policy Timur Suleimenov says the issue of creating a single currency in the territory of the Eurasian Economic Union is not being discussed since it is not mentioned in both the EAEU agreement and any other document.

“The issue of creating a single currency is not being discussed in any EAEU platform since there is no talk about it in the EAEU large agreement, as well as in any other document”, he said. He said an attempt is being made to have a harmonized monetary regulation, to avoid currency restrictions in the mutual trade, as well as to have access opportunities to the common financial market. “As for the monetary-loan, currency policy, it is under the sovereignty of the states, they are not ready yet to transfer it to a supranational level, but without it the single currency cannot take place”, “Armenpress” reports, Suleimenov said to journalists in Yerevan.

Concerning the tax regulations, Timur Suleimenov said these issues are also under the national sovereignty of the states. “Tax rates, tax privileges are decided at the state level. We as a commission must show neutrality, follow that this or that product is not being discriminated in the markets of the member states. If the Armenian product, for instance, appears in Kazakhstan, it should not be taxed more than that produced in Kazakhstan”, he said adding that it is a fundamental principle for the implementation of which monitoring and control are always being conducted.

Referring to the common Customs Code, the EEC Minister said it is probably the most important document in terms of volume and depth. “We have many agreements that regulate the sectors in the fundamental level, the rest remains in the national level. The Customs Code enables to regulate the entirety of the customs legal relations, thus, it is obvious that it is difficult to reach an agreement on all the documents in case of the differences of opinions on the risk management and customs service systems, as well as on the relations between the business and the state”, he said. He recalled that the dates of completing the elaboration of the Customs Code were set during the Prime Ministers’ session of the EAEU states held in Armenia in May.

“Quite strict deadline has been imposed, we will have the Customs Code until December 1, 2016”, the EEC Minister said.