Vladimir Putin’s introductory remarks:

Colleagues, we’ll now continue our work in the format of the Customs Union. Talks in this trilateral format are always substantive and important, but this meeting is, without exaggeration, one of the most critical. We will summarise the results of our intensive, multi-year effort to see through two breakthrough projects, the Customs Union and the Common Economic Space; and, even more importantly, we will discuss issues related to integration processes for the medium term.

First, we will discuss the contours and the creation of the Eurasian Economic Union. It is important to note that we have already achieved much in our partnership. Since July 1, 2011, there has been no border control for goods shipped across internal borders of Russia, Belarus and Kazakhstan. We have completed the formation of a common customs territory. And the economy immediately responded to the creation of the Customs Union: mutual trade between our troika of nations grew by a third in a year and has exceeded $108 billion. By creating the Customs Union we have moved closer to forming the Common Economic Space. This represents an even higher level of integration, with the free flow of services, goods, labour and capital. We have agreed policies in key economic sectors. The Common Economic Space opens up new markets for our companies, formulates common and clear rules, and offers greater choices and a vast territory for business activity.  

On January 1, 2012, 17 agreements constituting the foundation of the Common Economic Space will come into effect. They concern a wide range of issues, from macroeconomics and financial markets to technical regulation and intellectual property protection. The mechanisms of the Common Economic Space need fine tuning, naturally. The laws of our countries must incorporate the principles and standards of the Common Economic Space, and this will require extensive work.

What’s most important is that we all want the Common Economic Space to become an attractive and successful association benefitting from the best integration practices from around the world. Obviously, with the launch of the Common Economic Space, the Customs Union commission will have to step up its work, and therefore we will have to focus on updating this body, on forming its board.   

At the meeting, we will hear the remarks by Viktor Khristenko, special representative of the Russian president, on amending the Agreement on Customs Union Commission.

In addition, from January 1, 2012, yet another supranational body, the Court of the Eurasian Economic Community, will begin to work in its full format. Both the states and direct participants of economic activity in the Customs Union will be able to appeal to this court. We have agreed and adopted all major organisational schemes forming the foundation of this court.

I want to especially thank our Belarusian colleagues who offered the necessary buildings and rooms, and provided funds for organising the current renovations of the building, which are being carried out in stages. This is an example of an invested, serious approach to our common objectives.

Today we will discuss the draft Declaration on the Formation of the Eurasian Economic Union, so that the heads of state can adopt it in December. We shall also discuss the codification of the legal foundation of the Common Economic Space and the Customs Union. And I want to stress that we must prepare the Treaty of the Common Economic Space on this foundation. This treaty will be a comprehensive document covering all aspects of our cooperation: those areas where we have lots of experience working together (for instance, in customs and tariff regulation) and those areas where we are only planning to work together, for instance, in migration and visa policies.

I believe that we all want the Eurasian Economic Union to become a powerful association, a leader of industrial and technological development, operating in the interests of all the citizens of our nations. Thank you for your attention. Let’s get to work.