Arab Today, arab today russia clinches economic union with belarus kazakhstan
Last Updated : GMT 08:00:59
Arab Today, arab today
Arab Today, arab today

Russia clinches economic union with Belarus, Kazakhstan

Arab Today, arab today

Arab Today, arab today Russia clinches economic union with Belarus, Kazakhstan

Russian President Vladimir Putin, his Kazakh counterpart Nursultan Nazarbayev and Belarussian President Alexander Lukashenko meet in Astana
Astana - AFP

Russian President Vladimir Putin on Thursday signed a deal creating an economic union with ex-Soviet states Belarus and Kazakhstan, with Ukraine conspicuously absent after it turned its back on Moscow.
"Russia, Belarus and Kazakhstan are going over to a fundamentally new level of cooperation," Putin said at the signing ceremony in the Kazakh capital of Astana.
The newly created Eurasian Economic Union will come into force on January 1, 2015. It guarantees free circulations of goods, services, capital and the work force and means that the members have to agree on certain areas of economic policy.
Trade turnover between the three countries in 2013 amounted to $66.2 billion, Putin said.
The project is hugely symbolic for Putin, who in 2005 called the breakup of the Soviet Union "the biggest geopolitical disaster" of the 20th century.
"The agreement signed really has epoch-making historic significance," Putin said,
"This strengthens the competitiveness of our countries in the world economy."
Two other ex-Soviet states, Armenia and Kyrgyzstan, are on track to join the union, Putin said.
But the union crucially failed to secure the participation of Ukraine, a country of 46 million with a potentially strong industrial sector.
"We lost some along the way: I mean Ukraine," Belarussian President Alexander Lukashenko acknowledged at the signing ceremony.
"I am sure that sooner or later the Ukrainian leadership will realise where its fortune lies."
However this is seen as unlikely under Ukraine's newly elected president, pro-Western billionaire Petro Poroshenko, who campaigned on a pledge to hasten European integration, thwarting Moscow's ambitions.
"Ukraine will not enter this union. That is a blow to the Eurasian Economic Union," said political analyst Alexei Makarkin at the Center for Political Technologies in Moscow.
Ukraine plunged into an unprecedented crisis last November when then-President Viktor Yanukovych pulled out of signing an Association Agreement with the European Union.
Putin then threw Ukraine a $15 billion dollar lifeline and slashed its gas bill in exchange for staying within Moscow's sphere of influence with the expectation being that it would ultimately join the union.
But months of street protests led to Yanukovych's ouster and the installation of pro-Western leaders determined to steer the country out of Moscow's orbit.
- 'Heated discussions' -
The alliance will follow a much looser Eurasian Customs Union that Russia formed with the two ex-Soviet nations in 2010 in an effort to build up a free trade rival to the 28-nation EU bloc.
Putin hinted that discussions had been far from smooth with Belarus and Kazakhstan's strongmen leaders.
"It was hard to come to agreement on all these questions up to this moment," Putin said. "I don't want to say there were rows, but still there were heated arguments, heated discussions."
He stressed that union did not mean the members were handing over their sovereignty.
"It's important that the handing over of certain powers to the supra-national organs of the union does not cause absolutely any harm to the sovereignty of our countries."
Nazarbayev also stressed: "This union is economic and does not affect the countries' sovereignty."
Both Kazakhstan and Belarus are "extremely cautious about political integration," said Makarkin, adding they wanted to reap economic benefits from the union, without weakening their highly centralised power structures.
"They don't want a single currency, citizenship and president but want to have a Russian market for their goods. Lukashenko and Nazarbayev didn't create their regimes in order to hand over their powers to Russia."
Kazakhstan is an energy-rich country but was forced to devalue its currency, the tenge, in February under pressure from Russia's slowing economy among other factors.
Belarus's cash-strapped economy has suffered recurring crises. It still based on Soviet principles and is closely controlled by the state with very little private sector activity.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today russia clinches economic union with belarus kazakhstan Arab Today, arab today russia clinches economic union with belarus kazakhstan

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 06:01 2017 Sunday ,26 February

BRIC funds see inflows amid emerging equity boom

GMT 05:43 2017 Sunday ,26 February

Al-Gergawi quits Dubai Holding to focus on govt role

GMT 05:14 2017 Sunday ,26 February

Oil prices to average $50-$70 through 2022

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner

GMT 05:53 2017 Saturday ,25 February

Global sovereign debt to hit new all-time high

GMT 05:17 2017 Saturday ,25 February

Oil world cautious on Trump’s next move

GMT 09:59 2017 Friday ,24 February

Baidu revenue slips anew amid ad clampdown
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday