World Bulletin / News Desk

Kyrgyzstan and Armenia will officially enter the Eurasian Customs Union that was created by Russia, Belarus and Kazakhstan, on the January 1, 2015.

Russian President Vladimir Putin, at the Supreme Economic Eurasian Council in Moscow where Kyrgyzstan and Armenia signed the documented, said that, “We are certain that with the new members Kyrgyzstan and Armenia, serves the fundamental interests of this country and we are confident that this will open wider horizons for socio-economic development”.

Negotiations had begun for Kyrgyzstan to enter the union at the Customs Union Leaders Summit in Astana.

The management of Kyrgyzstan has sought support from Russia and Kazakhistan during the Customs union accession for laboratory management, and increase border security, at the tune of $300 million. Russia and Kazakhstan had promised to give finanacial support.

Kyrgyzstan will receive 1.9% of the tax from the Eurasian Economic Union and will receive 3 seats in the administration of the union