The Armenian government approved, at its Cabinet meeting Thursday, the agreement on a unified customs transit system between the Eurasian Economic Union (EAEU) and third party/parties.

The agreement is aimed at simplifying international trade procedures, ensuring favorable conditions for the transportation of goods across the EAEU customs border and the customs borders of third parties, and increasing the level of security of cross-border deliveries.

Also, the agreement establishes the main principles of the operation of the unified customs transit system of the EAEU and third party/parties.

And to implement this international agreement, the Eurasian Economic Commission—the executive body of the EAEU—coordinates the interaction between the EAEU member states and third party/parties.

The EAEU is comprised of Armenia, Belarus, Russia, Kyrgyzstan, and Kazakhstan.