Three ex-Soviet states introduce common customs tariffs in 2010
January 1. RIA Novosti. MOSCOW
Russia, Belarus and Kazakhstan will use common customs tariffs starting January 1 in line with an agreement to form a customs union.
The presidents of Russia, Belarus and Kazakhstan signed a package of deals on November 27 to create a customs union with common tariffs, paving the way for a single economic space.
The three countries are planning to introduce a common customs space in July 2010 and form a single economic space in January 2012.
The customs union will bring Russia an additional $400 billion in revenue and over $16 billion to Kazakhstan and Belarus.
The union could help the countries take key positions on the global energy and grain markets.
The countries’ aggregate GDP is $2 trillion, and their trade turnover is estimated at $900 billion.