Russia, Belarus and Kazakhstan almost approved institutional part of the draft agreement on Eurasian Economic Union, Vladimir Putin said on Tuesday.

He said the text of the treaty must be ready by May 1, 2014. Then, it will be passed for ratification of the parliaments so as the Eurasian Economic Council will be ready for full work from January 1, 2015.

Russian leader stressed that despite difficult economic situation all over the globe, the common market of the three member states is expanding. In 2010-2012 the trade turnover between the Customs Union member states increased nearly three times and reached $67.8 billion.

“Armenia and Kyrgyzstan have launched active efforts on joining Customs Union. We noted high level of preparedness of the Armenian partners to assume obligations in the framework of our integration union. I think we may approve a plan of events for Armenia’s accession, the so-called roadmap,” Putin said.