19:41 GMT +318 November 2018
Listen Live
    Russia

    Russia, Belarus, Kazakhstan are launching common economic space Jan. 1

    Russia
    Get short URL
    0 01

    The three former Soviet republics forming a customs union - Russia, Belarus and Kazakhstan - are introducing a common economic space from January 1.

    The three former Soviet republics forming a customs union - Russia, Belarus and Kazakhstan - are introducing a common economic space from January 1.

    In November, the Russian, Belarusian and Kazakh presidents signed a declaration on Eurasian economic integration, a roadmap of integration processes aimed at creating the Eurasian Economic Union, which will be based on the Customs Union and common economic space among the three countries.

    At their summit on December 18, the three leaders signed an agreement on the Eurasian Economic Commission, a new supranational body to manage economic integration of the three former Soviet republics.

    President Dmitry Medvedev said in his state-of-the-nation address to both houses of parliament on December 22 that Russia intends to intensify economic integration in the post-Soviet space and expects the Eurasian Economic Union with Belarus and Kazakhstan to come into existence by 2015.

     

    Community standardsDiscussion
    Comment via FacebookComment via Sputnik