Belarus, Russia and Kazakhstan will intend to set up the Eurasian Economic Union by 2015, runs the Eurasian Economic Integration Declaration which the Presidents of the three countries signed in Moscow on 18 November.

“The sides will do their level best to complete the codification of the international agreements that make up the legal framework of the Customs Union and the single economic space to establish the European Economic Union by 1 January 2015,” the declaration says.

The effort will include an attempt to balance out macroeconomic, budget and competition policies, reform labor, capital, goods and services markets, develop Eurasian networks in energy, transport and telecommunications.

The document will also aim at further strengthening of all-round mutually beneficial and equal cooperation with other countries and international alliances including the European Union with a possibility of establishing a common economic space.

Belta