On March 14th 2018, Head of State signed a Law of RK “About ratification of the Agreement as per order of volunteer agreement by states – members of Eurasian economic union with Eurasian economic commission of specific subsidies as per industrial goods and conducting by Eurasian economic commission of proceedings connected with provision by states – members of the Eurasian economic union of specific subsidies”
Agreement is prepared for execution of the Agreement about Eurasian economic union and signed on May 26th 2017 at the meeting of the Eurasian intergovernmental board.
order of volunteer agreement by states – members of the Union with Eurasian economic commission of specific subsidies as per industrial goods;
order of conducting by Eurasian economic commission of proceedings connected with provision by states – members of the union of specific subsidies
Agreement considers the right of the country member of EEU to address to the Eurasian economic commission for agreeing specific subsidies and conducting proceedings as per provision of industrial subsidies.
When Eurasian economic commission will be receiving addressing of the states – members of EEU about agreement of the specific subsidies, Eurasian economic commission will conduct analysis of such subsidies as per their criterions of acceptability or non acceptability of specific subsidies identified in the Agreement. As per the results of the analysis, board of Eurasian economic commission will take relevant decisions.
In case if specific subsidies will not comply with criterions of acceptability and non acceptability, decision about agreement of the subsidies will not be taken. Considering possible changes of practices of subsiding, state – member of EEU has right to initiate development of the new criterions of acceptability which will be approved by decision of the Eurasian intergovernmental board.
Thankfully to application of the mechanism of agreement, the country addressed to Eurasian economic commission will be insured from the risk of further implementation of compensating measures by any state – member of EEU.
Besides, states – members having rights to address to the Eurasian Economic commission for initiating the procedure of proceedings as per provided industrial subsidies with availability of foundations proving causes of losses or risks of causing losses. Procedure of proceedings conducted by Eurasian Economic commission is an alternative mechanism as in this case states members of EEU preserving capabilities of initiating investigation at the national level as per Agreement about EEU.
As per results of proceedings, Eurasian Economic commission is taking decisions which shall be fulfilled by states members of EEU. When clarifying the facts of losses as per agreed subsidies, the subsiding country is cancelling provision of such subsidies. In this case not implementing compensating measures. As per non agreed subsidies, the country having losses may send to the subsiding country application about implementing compensating measures or find other decision within the frame of bilateral consultation.
Fulfillment of the Agreement will allow to regulate legal tools of protecting interests of national industrial enterprises, also provide integrity of the procedure of proceedings by attracting to this process an independent judge of Eurasian Economic commission.