Russia: From the common customs territory of Russia, Belarus and Kazakhstan to Common Economic Space

Prime Minister Vladimir Putin and Belarusian Prime Minister Mikhail Myasnikovich took part in a meeting of the Russia-Belarus Union State Council of Ministers[i].

Premier Vladimir Putin said:

Serious uncertainties and great risks persist in the world economy. In this situation, we must do our utmost to coordinate our efforts and make effective use of the opportunities and advantages of integration and the instruments of mutual support, including the prompt reaction to the emergence of additional risks.

The common customs territory of Russia, Belarus and Kazakhstan became a reality on July 1, 2011. The customs and other agreed control measures have been transferred to the outer borders of the Customs Union and on Jan. 1, 2012, we will launch the Common Economic Space with the free movement of capital, goods, services and labour. This offers real opportunities for enhancing our partnership.

Prime Minister Mikhail Myasnikovich said:

The experience of Belarus and Russia’s integration must be taken into account in creating the legal framework for the common economic space and drafting the declaration of the Eurasian Economic Union. We should have the draft of this document before this year is out.

The crisis speeds up strategic partnerships.