The Common Economic Space Began to Function on January 1 / News / News agency Inforos
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The Common Economic Space Began to Function on January 1

The Common Economic Space (CES), which unified Russia, Belarus and Kazakhstan, has functioned since January 1, 2012. In point of fact, this means a single playing field for businesses of the three countries. Firstly, it is a single monetary policy and a free flow of capital and joint support to agriculture. Secondly, competition rules, the ban on protectionism, the free movement of goods across borders are the same to everyone without discrimination. Thirdly, the unification of customs regulations and tariffs.

Since the new year, the Eurasian Economic Commission starts work, which will run the integration processes in the Customs Union and the Common Economic Space. It will include 800 representatives from Russia, Belarus and Kazakhstan, and it will act as a federal ministry. The commission will have the right to independently make decisions that will be mandatory for all three countries. The new supranational body, which on July 1 will have to completely replace the former Customs Union Commission, will make decisions by consensus.
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