BELARUS NEWS AND ANALYSIS
DATE:
06/07/2010
Belarus, Russia and Kazakhstan form customs union
Big news in the international trade world: Belarus, Kazakhstan and Russia will officially participate in a newly formed customs union. According to various English language reports, the customs union will go into force today. The signing is a victory for Russia's leaders, who have pushed the customs union for a variety of reasons, notably to re-establish Russia as a regional hub for trade and finance. However, the ratification appears to delay Russia's long-stalled membership application for the World Trade Organization. Now, Russia, Kazakhstan, and Belarus will collectively apply.
Is your business closely watching the development of this new customs union? Please share your thoughts with the NY International Trade Reporter.
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