EAEU countries will be able to block EEC decisions on trade measures that contradict national interests

President Sadyr Zhaparov signed a law ratifying the Protocol on Amendments to the Treaty on the Eurasian Economic Union dated May 29, 2014. The document introduces key changes to the decision-making mechanism for special protective, anti-dumping, and countervailing measures.

The main innovation is the introduction of a veto right for member states on decisions of the Board of the Eurasian Economic Commission on the introduction of trade restrictions. This will allow the countries of the union to block decisions if they contradict their national interests.

In addition, the document introduces the mandatory adoption of an act by the EEC Board after each investigation, which increases the transparency and accountability of the procedure.

Other changes include:

• The EEC Board will now adopt behavioral recommendations for EAEU producers simultaneously with protective measures to mitigate the possible consequences for business.
• Cooperation between the national authorities of the EAEU countries and the investigating bodies is being expanded, which will allow for the national specifics and interests of market participants to be taken into account.
• In the case of repeat investigations, the impact of protective measures on competition will be assessed in order to prevent abuse and maintain a balance between protection and trade development.

The changes adopted are aimed at increasing the flexibility and efficiency of decision-making within the EAEU, as well as taking into account the interests of all member countries when introducing trade measures.