The leaders of Russia, Belarus and Kazakhstan took their longest stride to date in linking their economies, forming a customs union that they say will soon evolve into a more ambitious common market, with Russia at its hub.
Russia and 2 Neighbors Form Economic Union |
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July 6, 2010
The leaders of Russia, Belarus and Kazakhstan took their longest stride to date in linking their economies, forming a customs union that they say will soon evolve into a more ambitious common market, with Russia at its hub.
The agreement, for now, eases trade among the three large former Soviet economies without fully abolishing all duties and tariffs.
The three also stopped short of reaching a common position on membership in the World Trade Organization, something Russia as an individual country has been trying to negotiate since shortly after the Soviet collapse in 1991.
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