Belarus to ratify Unified Economic Space papers by 2011

MOSCOW. December 10. KAZINFORM Belarus will ratify documents on the Unified Economic Space with Russia, Kazakhstan and Ukraine before January 1, 2011, Belarusian President Alexander Lukashenko said after summit in the Kremlin on Thursday.

"I pledge that we will do this [ratify all the necessary documents] before both Russia and Kazakhstan... before January 1," Lukashenko said. "The most important thing is that we allow enterprises in Russia, Kazakhstan and Belarus to compete under the unified economic space."

The Belarusian leader thanked Russia for abating his country's concerns about export duties on oil and oil products.

Earlier in the day Russia's Economic Development Minister Elvira Nabiullina said Russia would cancel oil export duties for Belarus from January 1, if Minsk ratifies all agreements to create a Unified Economic Space. The decision will save Belarus almost $4 billion.

The Unified Economic Space will allow the free movement of goods, services, capital and labor, and a coherent macroeconomic policy between the member countries, Kazinform refers to RIA Novosti.


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