YEREVAN. – Armenia has approved the classification codes of the Commodity Nomenclature of Foreign Economic Activities (CN FEA).    

The Minister of Finance, Gagik Khachatryan, presented the government’s respective decision at Thursday’s Cabinet meeting.

He noted that the new codes were adopted because of Armenia’s forthcoming accession to the Eurasian Economic Union (EEU). 

Ten-digit CN FEA codes are used in the EEU, whereas eight-digit codes are used in Armenia at present.

In addition, some changes are needed when allocating codes to the products.

Armenia signed, on October 10 in the Belarusian capital city of Minsk, the treaty on accession to the EEU, whose founding members are Russia, Belarus, and Kazakhstan. Armenia is slated to become a formal Eurasian Economic Union member on January 1, 2015.