EEC

Eurasian Economic Community

The Customs Union of Russia, Belarus and Kazakhstan was launched on July 1, 2011.

 

Aim of establishing a Eurasian Economic Union which is based on Free Trade Areas, the Customs Union, and the Common Economic Space with the broader by 2015.

 

 

  • In January 2010 it was launched. In July 2010 the customs code was adopted; starting working. And then the next year, in the July, the customs borders were moved to the external parameter of member states.
  • A CIS Free Trade Agreement was signed in October 2011.
  • In January 2012, fundamental international agreements necessary for the establishment of the Common Economic Space came into effect.
  • Kyrgyzstan and Tajikistan are displaying an active interest in the process.

There has been considerable progress in the integration process across the region. 



It was developing incredibly fast. Comparing to the European Union, which took almost 30 years to do the same thing – it is just 2-3 years for customs union and then to the common market.

It seems that it will be completed around five years as schedule by 2015.



The establishment of a Eurasian Economic Union by 2015 is an ambitious, but attainable, task that will have a profound effect on the future of the entire CIS region.



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