Common economic space of Russia, Kazakhstan and Belarus

2011 10 11 | Category: News

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Starting from 2012 January the 1st the states of Russia, Kazakhstan and Belarus create common economic space. The prime minister of Russian Federation Vladimir Putin wrote an article, in which he described the future structural changes in the economic lifes of 3 countries the integration project of the utmost importance.

In the article, which is available on the website of the Russian daily newspaper “Izvestia”, prime minister writes about his hopes, that this project will be lasting, sustainable and truly free from any outside influences, including the political ones.

Mr. Putin writes that in fact a common market is being created with 165 mln. of consumers, with common laws, free movement of goods, services and workforce.

It is important to mention, that the article announces the true beginning of competition between jurisdictions. The businessmen can now freely choose where should they incorporate, where to proceed with customs formalities, where to do business.

Common economic space or as it is also called the Eurasian Union, according to the one of the most influential Russian bureaucrats – is not going to compete with European Union. He reminds his reader, that already in 2003 Russia and EU began talks about the creation of common economic space, and so the new organization will develop with that objective in mind.

The article concludes itself with the thought that the future of the economy as well as the solution to today’s world financial troubles lies with the sort of models that the Eurasian Union proposes.

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Sources:
“Izvestia” website: Новый интеграционный проект для Евразии — будущее, которое рождается сегодня (Vladimir Putin, 3 October 2011 )


EditorCommon economic space of Russia, Kazakhstan and Belarus