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Common Economic Space kicked off

04 january 2012, 11:47
Meeting of the Supreme Eurasian Economic Council. ©RIA Novosti
Meeting of the Supreme Eurasian Economic Council. ©RIA Novosti
Common Economic Space started functioning on January 1, Rusnovosti writes.

The declaration was signed by the Presidents of Kazakhstan, Russia and Belarus on November 18, 2011. According to the document, the CES is based on the rules and principles of the WTO and is open to other countries for joining.

The Eurasian Economic Commission started operating on January 1 as well. It will manage integration processes under the Customs Union and CES.

The Eurasian Economic Commission will replace the Customs Union Commission. The re-organization will finish on July 1, 2012.

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