EURASEC SUMMIT IN ASTANA TO FOCUS ON ELECTRIC ENERGY ISSUES

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MOSCOW, June 9 (RIA Novosti) - The Eurasian Economic Community summit will focus on EurAsEC cooperation on effective development of hydroelectric resources of the Syr-Darya and Amu-Darya Rivers, the formation of the EurAsEC common tariff zone of railway carries, draft agreement on cooperation in the securities market and draft treaty on the EurAsEC legislative principles.

All in all, 19 issues will be on the agenda of the EurAsEC summit in Astana in late June, EurAsEC Secretary General Grigory Rapota told RIA Novosti.

According to him, the work on priority trends of EurAsEC development for 2003-2006 was recently completed. This document was adopted and signed by all EurAsEC leaders.

"This document confirms and classifies three stages of the integration development: the improvement of the free trade regime, formation of the Customs Union (2006) and the formation of the Common Economic Space," Mr. Rapota said. The document also outlines tasks to be solved for the achievement of these goals.

The construction of power transmission lines from Tajikistan and Kyrgyzstan to Russia was accomplished, Grigory Rapota said. In summer these countries have excessive electric energy and it is wasted, he explained.

"The general EurAsEC dynamics is positive," he noted. "However, economic integration is a complicated and long process," he added.

The EurAsEC Secretary General highly assessed the decision-taking mechanism of the Eurasian Economic Community. "Decisions are taken carefully but implementation is guaranteed," Mr. Rapota said.

The Eurasian Economic Community will help draft the documents needed to form the Common Economic Space of Russia, Belarus, Kazakhstan and Ukraine.

"A top-level group asked EurAsEC to draft agreements for the Common Economic Space formation," he stressed.

In his words, it is necessary to draft about 100 agreements, 30 of which will be worked out by ministries and departments and 60 - by experts of the EurAsEC secretariat. "But it does not mean that the EurAsEC secretariat has become the Common Economic Space secretariat," he noted.

According to the EurAsEC Secretary General, all documents on the Common Economic Space formation should be prepared by the end of 2004.

The Eurasian Economic Community (Russia, Belarus, Tajikistan, Kazakhstan and Kyrgyzstan) and Common Economic Space (Russia, Belarus, Kazakhstan, Ukraine) have common stages of development: the formation of the free trade zone, customs union, common economic space and coordinated investment and budget policy, Grigory Rapota said.

However, the Eurasian Economic Community has stricter forms of movement from one stage to another. Agreements are signed only by all member-states. The Common Economic Space has other rates, which allow other countries join the agreement as they are ready," Mr. Rapota noted.

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