AKIPRESS.COM - Armenia’s parliament ratified a treaty on joining the Eurasian Economic Union on Thursday.

A total of 103 deputies voted for and 7 against with one abstention.

The ratification was supported by all forces represented in the parliament except the Heritage opposition faction.

The document on Armenia’s joining the Eurasian Economic Union was signed in Minsk on October 10.

The agreement on creation of a Eurasian Economic Union of Russia, Belarus and Kazakhstan for the free movement of goods, services, capital and workforce, was signed in Astana on May 29, 2014.

The agreement stipulates the transition of Russia, Belarus and Kazakhstan to the next stage of integration after the Customs Union and the common economic space.

The agreement defines the structure, powers and work procedures for the union’s bodies that comprise the Higher Eurasian Economic Council composed of the heads of state, the Eurasian Inter-Governmental Council composed of the heads of governments of the union’s member states, the Eurasian Economic Commission and the Eurasian Economic Union Court.

The document defines the Russian language as the union’s working language. The treaty also stipulates that the Eurasian Commission will be headquartered in Moscow, the Eurasian Economic Union Court in Minsk and the financial regulator in Almaty.

The document says that the union is open for accession by any state sharing the union’s goals and principles on the terms agreed by the member countries. The document stipulates a 10-year period for the union’s member states to fully harmonize their national legislatures.