Belarus, Kazakhstan, Russia to form single economic area by 1 January 2012

The document was signed by Alexander Lukashenko, Nursultan Nazarbayev and Dmitry Medvedev in Almaty on 19 December, BelTA learnt from the press service of the Belarusian President.

The governments of the three countries jointly with the Customs Union Commission should provide the fulfillment of the action plan and inform the EurAsEC Interstate Council and the Customs Union supreme body.

According to Alexander Lukashenko, Belarus, Kazakhstan and Russia should not lose the momentum in setting up the single economic area. "A big decision regarding the single economic area was taken in Minsk.

It is very important to maintain the momentum," Alexander Lukasehnko said.

The presidents of Belarus, Kazakhstan and Russia confirmed their aspiration to develop the single economic area no later than 1 January 2012. If the action plan on forming the single economic area is implemented,

all the basic elements of this union will come into effect in Belarus, Kazakhstan and Russia. The three countries will have the agreed economic policy and the uniform rules related to business competition and industrial subsidies. The participating countries will ensure the free movement of services, capital and workforce.

Within the framework of the single economic area, the three countries will develop the regulations on mutual access to natural resources and set the economic assistance rules. The Presidents agreed to respect the balance of interests and facilitate the solution of the most difficult problems. As it was mentioned, the Customs Union will help increase the mutual trade of the three countries. The Presidents also agreed on the necessity of

taking prompt measures to create a full-fledged single economic area.

Later that day Almaty hosted the informal CIS summit. Taking part in it were Presidents of Belarus, Kazakhstan, Russia, Armenia, Kyrgyzstan, Tajikistan and Turkmenistan.

The Heads of the CIS states consider these informal meetings to be very useful, because they allow discussing a wide range of problems. Such meetings should be held in future, said President of Kazakhstan Nursultan Nazarbayev at the opening of the informal summit.

He also said that the Presidents came to Kazakhstan to share their opinions on the problems that were of mutual interest and discuss the joint efforts in the future. He recalled that one of such meetings in Sochi triggered the formation of the EurAsEC.

Apart from that, the presidents stressed that the problem of regional security is of high importance.


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