Majilis OKs EAEU agrt on voluntary harmonization of specific subsidies

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ASTANA. KAZINFORM The Majilis of the Parliament of the Republic of Kazakhstan approved the ratification of the Agreement on voluntary harmonization by the Member States of the Eurasian Economic Union (EAEU) with the Eurasian Economic Commission (EEC) of specific subsidies for industrial goods, Kazinform correspondent reports.

The agreement provides for the right of the EAEU Member States to voluntary harmonization with the EEC of specific subsidies. According to the document, the Commission will make a decision on harmonization of the provision of specific subsidies based on the analysis of their compliance with the criteria of admissibility or inadmissibility.

There are 15 admissibility criteria at least one of which has to be met in order for a positive decision to be made. Including, if the subsidy is not significant - 100 thousand dollars to one recipient (enterprise). The production in such cases has to be joint, and the product itself produced on the territory of the union in insufficient quantities. Other criteria include the product's novelty for the region, innovation, and the enterprise's being located in disadvantageous geographical location. At the same time, subsidies are intended for start-ups who are in a crisis situation, those in the process of adapting to the EAEU standards or affected by an emergency, accidents or disasters.

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