Russia, Uzbekistan to start consultations on free trade zone - Putin

TASHKENT, December 10. /TASS/. Russia will start talks with Uzbekistan on a free trade zone between the post-Soviet trade bloc and the Central Asian republic, Russian President Vladimir Putin said on Wednesday. “We have agreed today to begin consultations concerning a possible signing of a deal between Uzbekistan and the Eurasian Economic Union [EEU] on a free trade zone,” Putin, who is currently on an official visit to Uzbekistan, told journalists after his meeting with Uzbek President Islam Karimov. “I would like to underline that it will be consultations solely,” Putin added. The Eurasian Economic Union (EEU) is based on the Customs Union of Russia, Belarus and Kazakhstan and is a new integration association, which will start functioning from January 1, 2015 instead of the Eurasian Economic Community (EurAsEC), which officially ceased to exist on October 10. The Treaty on the establishment of the Eurasian Economic Union was signed by the presidents of Russia, Belarus and Kazakhstan on May 29, 2014 in Astana. The agreement is the basic document defining the accords between Russia, Belarus and Kazakhstan for creating the Eurasian Economic Union for the free movement of goods, services, capital and workforce and conducting coordinated, agreed or common policies in key sectors of the economy, such as energy, industry, agriculture and transport. The agreement stipulates the transition of Russia, Belarus and Kazakhstan to the next stage of integration after the Customs Union and the common economic space. The document says that the union is open for accession by any state sharing the union’s goals and principles on the terms agreed by the member countries. The EEU members are currently Russia, Belarus, Kazakhstan and Armenia. Kyrgyzstan is expected to join the union soon. Read more