Agreement on forming of the Common economic space

of September 19, 2003

The Republic of Belarus, the Republic of Kazakhstan, the Russian Federation and Ukraine which are referred to as further with the Parties

aiming to promote economic and social progress of the people, increase in level of their life;

movable by the aspiration to strengthen economies of the Parties and to provide their harmonious development, consistently undertaking economic reforms for further deepening of multilateral economic cooperation and strengthening of integration processes by achievement of mutually advantageous arrangements on forming of the Common economic space (further - EEP);

recognizing at the same time the right of the Parties to determine the participation in process of forming of EEP taking into account their readiness for further deepening of integration processes;

confirming the friendship connecting the states and the people, wishing to provide their prosperity, based on the conventional principles and rules of international law;

in view of the Statement of Presidents of the Republic of Belarus, the Republic of Kazakhstan, the Russian Federation and Ukraine of February 23, 2003;

agreed as follows:

Article 1

For the purpose of creation of conditions for stable and effective development of economies of the Parties and increase in level of living of the population of the Party start process of forming of EEP.

Understand the economic space combining customs areas of the Parties on which the mechanisms of regulation of economies based on the single principles providing free movement of goods, services, the capital and labor power function as the Common economic space of the Party and it is carried out single foreign trade and approved, in that measure and in that amount in what it is necessary for ensuring the equal competition and maintenance of macroeconomic stability, tax, monetary and monetary policy.

The parties aim to help:

to the development of trade and investments between the Parties providing sustainable development of economies of the Parties based on the conventional principles and rules of international law, and also rules and the principles of the WTO;

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