Kazakhstan, Russia and Belarus take next step to form common economic system.

By bne IntelliNews December 21, 2009
Leaders of Kazakhstan , Russia and Belarus instructed their negotiation teams to draft document for a common economic system by Jul 1, 2011 in order to put the system into force from Jan 1, 2012 . The presidents made the decision to form a common economic system within the Customs Union and signed the deciaion on the need to draft and adopt the relevant resolution. Moreover, the leaders set the task of creating a common customs union by Jul 1, 2010 . At the same time, Russian deputy PM Igor Shuvalov noted that amendments (ensuring interest of each party are protected) to the Customs Union will be drafted within 2 months. The document will be submitted to the state heads within 3 months. To remind you, Kazakhstan , Russia and Belarus agreed to create the Customs Union in late November in Minsk . 

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