Azernews.Az

By Laman Sadigova

Belarus Deputy Foreign Minister Alexander Guryanov claimed on March 31 that Kyrgzystan will have a short timeframe for transition to the general regime specified by the European Economic Union.

Kyrgyzstan inked a treaty on its accession to the EEU in December, 2014. The country's overall integration into the organization is expected in May, after it completes all internal ratification procedures.

The EEU is an international organization for regional economic integration among Russia, Armenia, Belarus and Kazakhstan. The union provides free goods movement, capital, services and labor, pursues coordinated, harmonized and single policy in the sectors determined by the EEU Treaty and international agreements of the Union.

With four members on board the Union is aimed to comprehensively upgrade, raise competitiveness and cooperation between the national economies, and promote stable developments in those countries.

Alexander Guryanov also noticed that there are certain concerns about some exceptions that Kyrgyzstan appealed for - for example China remains a strong competitor in Asia, one which could harm the Union’s economic interests.

“We are working hard in order to prevent Kyrgyzstan’s temporary exemptions to lead to some kind of "black hole", which will saturate our market with cheap, off-quality goods and make unfair competition to domestic producers,” Guryanov says.

In addition to free trade, the union will coordinate the members' financial systems and regulate their industrial and agricultural policies as well as labor markets and transportation networks.

Thus, the formation of the largest common market in the CIS area, which will be a new powerful center of economic development, comes to the finish line.

Although, the EU is not very enthusiastic about the prospects of economical and political reintegration of the CIS countries. The unification of these countries’ economy will lead to the strengthening of Russian influence in the region. In that case, the EU will have to forget all its hopes about any interference in these countries ‘affairs.

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