Arab Today, arab today russia clinches economic union with belarus kazakhstan
Last Updated : GMT 16:51:52
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.

 

arabstoday
arabstoday

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

 



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 Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Egypt tourism revival steady but slow

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 600,000 children may flee to Bangladesh

GMT 06:49 2017 Monday ,18 September

600,000 children may flee to Bangladesh
Arab Today, arab today Equifax executives step down

GMT 16:16 2017 Saturday ,16 September

Equifax executives step down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today 5,000 'Dieselgate' deaths in Europe per year

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Renault-Nissan to launch

GMT 10:44 2017 Saturday ,16 September

Renault-Nissan to launch
Arab Today, arab today Eman Al Assy receives three offers

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers
Arab Today, arab today 'Severe' Typhoon Doksuri pounds Vietnam

GMT 15:49 2017 Friday ,15 September

'Severe' Typhoon Doksuri pounds Vietnam

GMT 11:10 2017 Friday ,15 September

Fadl Shaker retreats from surrendering himself

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:25 2017 Thursday ,14 September

Greece fumbled oil spill response

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:45 2017 Sunday ,17 September

France's hurricane-hit St Martin

GMT 21:57 2017 Sunday ,17 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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