Russia, Belarus, Kazakhstan to launch single economic space in 2012

MOSCOW, Dec. 9 (Xinhua) -- The presidents of Russia, Belarus and Kazakhstan agreed here Thursday to launch the Common Economic Space (CES) of the Customs Union on Jan. 1, 2012.

A joint statement adopted by the heads of state at a meeting of the supreme body of the Customs Union said the CES will be open to other countries.

"Developing the CES, we are moving towards the creation of a Eurasian Economic Union," said the statement.

In the near future, Kyrgyzstan and Tajikistan will also join the Customs Union and the CES, thus deepening the integration of the society and economy of Eurasia, said the statement.

The three leaders also signed three agreements from the CES legal package, including a coherent macroeconomic policy, creation of conditions in the financial markets for the free movement of capital, and the agreed principles of monetary policies.

So far all 17 documents of the legal package have been inked, said Russian Economic Development Minister Elvira Nabiullina.


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