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Eurasian Customs Union between Russia, Kazakhstan, and Belarus finally
successful as well.
Based on the previous arrangements, Russia, Kazakhstan, and Belarus
signed a Treaty on the Establishment of the Common Customs Territory
and Formation of the Customs Union^22 in October 2007, which was
formally enacted on January 1, 2010. Based on the Customs Union, a
Single Economic Space (SES) was finally in the process of being
established between the three founding member states, whereas both the
Customs Union and the SES are intended to build the fundamentals of the
future Eurasian Economic Union.
Towards an Eurasian Economic UnionThe process towards the establishment of the Eurasian Economic Union
was initiated with the creation of the Customs Union and was further
supported by several formal steps. Based on the above, Russia,
Kazakhstan, and Belarus signed a Declaration on Eurasian Economic
Integration^23 in November 2011, which, together with other international
arrangements, formed the legal framework of the Single Economic Space.
On this basis, the signing countries declared in January 2012 that the SES
had become operational.^24 A month later, a supranational regulatory body
was created with both the Customs Union and the SES, starting its work
as an executive organ known as the Eurasian Economic Commission
(EEC). This body is particularly aimed at coordinating activities at the
executive level in the interest of both regional organisations. Once the
codification of all necessary international arrangements has taken place,
the Eurasian Economic Union can be launched as scheduled on January 1,
2015.^25
From the theoretical perspective, Eurasian economic integration will
require four successive stages following the European economic
integration model. Figure 11-1 illustrates these four stages of the Eurasian
integration process as derived from the perspective of European integration.
http://www.wto.org/english/thewto_e/acc_e/a1_russie_e.htm
(^22) Treaty on the Establishment of the Common Customs Territory and Formation
of the Customs Union.
(^23) Declaration on the Eurasian Economic Integration of 18 November 2011.
(^24) Eurasian Economic Integration: Facts and Figures, 7.
(^25) Ibid.