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18.11.2011

Presidents of Belarus, Russia and Kazakhstan sign Eurasian Economic Integration Declaration

MOSCOW, 18 November (BelTA) – Following a tripartite meeting in Moscow, the Presidents of Belarus, Russia and Kazakhstan signed the Declaration of the Eurasian Economic Integration, in which the parties announce the launch of the next phase of integration - the Single Economic Space (SES), BelTA reports.

The document notes that the further development of the integration of the three countries meet their national interests, help reach common objectives to improve the well-being and quality of life, promote sustainable socio-economic development, facilitate all-round modernization and strengthen national competitiveness in the global economy.

In accordance with the Declaration, the SES is based on the principles of respect for the universally recognized norms of international law, including respect for the sovereignty and equality of states, fundamental human rights and freedoms, the rule of law and a market economy. In their practical cooperation the countries will be guided by the rules of the World Trade Organization. The Declaration reaffirmed the importance of accession to the WTO by all three states.

The document takes into account the proposal by Belarus concerning the possible establishment of joint transnational corporations to increase industrial cooperation. The Declaration also includes Belarus’ proposal to further strengthen comprehensive mutually beneficial and equal cooperation of the Customs Union and the SES with other countries, international integration organizations, including the European Union, with the prospect of establishing a common economic space.

In addition, the Declaration states the desire of the parties to complete, before 1 January 2015, codification of the international treaties constituting the legal framework of the Customs Union and the SES and to establish the Eurasian Economic Union on this basis. The document also notes that the SES will be open to other states that share the goals and principles of the union and are ready to implement them.

The sides have founded the Eurasian Economic Commission to secure the smooth operation and further development of the Customs Union and the Single Economic Space. The Commission will represent the interests of the whole alliance. The Presidents of the three countries signed the relevant agreement on 18 November.

The Commission will replace the Customs Union Commission. It will follow the principles of mutual benefit, equality and observation of national interests of the parties to the agreement, economic feasibility of decisions, openness, transparency and objectivity. The document envisages a two-tier body, i.e. the Council of the Commission and the Board of the Commission with separate functions and authorities. Such a system will create all necessary conditions to protect Belarus’ national interests.

The Presidents also adopted a regulation on the Eurasian Economic Commission. The document provides for a mechanism of making decisions by both the Council and the Board of the Commission, the rules governing holding of meetings and other organizational issues.