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Russian President Vladimir Putin, his Kazakh counterpart Nursultan Nazarbayev (middle) and Belarusian President Alexander Lukashenko (right) arrive for a
meeting in Astana on Thursday. Photo: AFP
Russia signed a treaty with Kazakhstan and Belarus Thursday to launch an economic union in 2015 to aid free flow of workforce http://www.cheapnfljerseysjaguars.com/Allen-Hurns/ , capital and goods among a combined population of more than 170 million people in
the three countries.
Analysts believe that the treaty forging the Eurasian Economic Union (EEU) will help deepen the previous customs unions created in 2010 by the three
countries as well as assist Russia's ambition to realize regional integration of
politics and security among the former Soviet republics.
The treaty signed in the Kazakh capital, Astana, will come into force on January 1, 2015. "Russia http://www.cheapnfljerseysjaguars.com/Allen-Robinson/ , Belarus and Kazakhstan are going over to a fundamentally new level of
cooperation," Russian President Vladimir Putin said at the signing ceremony.
The three countries have an annual gross domestic product between them of around $2.7 trillion, according to Reuters.
"The treaty has a more political than economic significance to Russia," Zhang Hong http://www.cheapnfljerseysjaguars.com/Blake-Bortles/ , a research fellow with the Institute of Russian, Eastern European and Central
Asian Studies of the Chinese Academy of Social Sciences, told the Global Times
Thursday.
Kazakhstan and Belarus have a very small economic volume and market size compared to Russia, and the latter benefits little from economic
integration http://www.cheapnfljerseysjaguars.com/Jason-Myers/ , Zhang said. This new bloc will not create too much difference for the current
global economic landscape.
Russian Deputy Finance Minister Sergei Shatalov told Reuters in March that Belarus and Kazakhstan receive about $6 billion annually from Russia in direct
and indirect support, and this could increase by $30 billion if all trade
restrictions were lifted in 2015 after the union is created.
"However, economic integration will be a starting point for Russia to revive the strong regional unity in politics and security among former Soviet
republics," Zhang said.
Putin has refuted assumptions that he is attempting to revive the Soviet empire. "They try to stick this label on us - a label that we are trying to
restore an empire http://www.cheapnfljerseysjaguars.com/Calais-Campbell/ , the Soviet Union, make everyone subordinate. This absolutely does not correspond
to reality," he said last week in St. Petersburg, reported Reuters.
Kazakhstan has repeatedly stressed that the union is economic and does not affect sovereignty.
