Updated at 23:19,25-10-2016

CU Countries Ready to Sign Agreement on Eurasian Union

17-11-2011, 19:31
CU Countries Ready to Sign Agreement on Eurasian Union

November 17, Russian President Dmitry Medvedev reported on the intention of the Customs Union leaders to sign a new agreement on economic integration. Documents are to be signed on November 18 during the meeting of presidents of Belarus, Kazakhstan and Russia in Moscow.

"Tomorrow, I hope, we'll sign an agreement on the further economic integration and the creation of a joint structure in question. This is a very important step we haven't made anybody to take – it's matured itself," RIA Novosti quoted Dmitry Medvedev.

The Russian president stresses that the Customs Union member-countries seek an effective cooperation without imposing it on anyone. According to Dmitry Medvedev, each country, willing to join the Customs Union, should do it consciously, "not to say afterwards that it's been driven there under the influence of some economic arguments."

Dmitry Medvedev believes in a great potential of the Customs Union, as well as in the countries' rapprochement.

According to the agenda of the upcoming meeting in Moscow, the head of the three countries plan to sign several documents "of fundamental importance for the further development of mutually beneficial cooperation." In addition, the meeting participants will discuss the improvement of supranational governance processes of integration within the joint work on the transition to the next stage of integration - the Eurasian Economic Union.

Russian Prime Minister Vladimir Putin suggested creating the Eurasian Union on the basis of the Common Economic Space of Belarus, Kazakhstan and Russia. Later this idea was supported by President of Belarus Alexander Lukashenko.

According to the Russian Prime Minister, the idea of the Eurasian Economic Union can be implemented by 2015. By this time, the Customs Union member-countries will have to take a number of regulations and amendments to the existing legislation.