DUSHANBE, January 3, 2012, Asia-Plus  -- The three former Soviet republics forming a customs union - Russia, Belarus and Kazakhstan – launched the common economic space beginning on January 1, 2012.  

In November, the Russian, Belarusian and Kazakh presidents signed a declaration on Eurasian economic integration, a roadmap of integration processes aimed at creating the Eurasian Economic Union, which will be based on the Customs Union and common economic space among the three countries.

Russia’s news agency, RIA Novosti, reports that at their summit on December 18, the three leaders signed an agreement on the Eurasian Economic Commission, a new supranational body to manage economic integration of the three former Soviet republics.

President Dmitry Medvedev said in his state-of-the-nation address to both houses of parliament on December 22 that Russia intends to intensify economic integration in the post-Soviet space and expects the Eurasian Economic Union with Belarus and Kazakhstan to come into existence by 2015.

Belarusian news agency, BelTA, reports that for the full functioning of the common economic space, the member states have created the international treaty framework.  The three countries have ratified 17 key treaties that make up the legal framework of the common economic space.  Thus, all the necessary documents have been formally adopted to ensure the full functioning of the common economic space.

Other CIS partners will join the single economic space developed by Belarus, Russia, Kazakhstan, Russian Prime Minister Vladimir Putin told reporters on December 30 after the meeting of the prime ministers of the three countries, BelTA reports.

“Tajikistan and Kyrgyzstan are showing interest in the single economic space. Some elements of the SES are attractive for Ukraine,” said Vladimir Putin.  The launch of the single economic space is a step towards a modern, open economy, which will be resistant to global crises, Vladimir Putin added.