Eurasian integration in progress

A declaration on Eurasian Economic Integration was signed today by leaders of three Customs Union member countries – Belarus, Russia and Kazachstan, reported RIA Novosti.

The document is an inaugurating phase of building a Common Economic Space and is a roadmap of the integration processes planned out for next few years.

All international treaties on the Customs Union and the Common Economic Space should be sorted out and consolidated by January 2015. The new Union will be open for other countries (some commentators suggesting that even Venezuela and Cuba might be interested in joining).

Eurasian Economic Commission was created as a supranational body responsible for coordination of the integration processes and functioning of the Customs Union and the Common Economic Space.

The declaration stressed that the further integration of the three countries addresses their national interests and contributes to the growth of their wealth and quality of citizens life, as well as economic development, modernization and competitiveness on the system of global economy.

The creation of the Eurasian Union was announced by prime minister Putin in an article published in Russian daily Izviestia. The Eurasian integration is supposed to be inspired both by the European and Soviet experience.


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