Common Economic Space (CES) is a project of economic and political integration of three CIS states: Russia, Kazakhstan and Belarus.
On September 19, 2003 in Yalta the heads of Russia, Belarus and Kazakhstan signed the Treaty on establishment of CES. The Treaty provided for development of group actions on CES establishment, which required about fifty agreements to be concluded, and besides, Convention on CES Establishment being an integral part of the executed Treaty on CES establishment was approved.
In June 2006 it was decided that further actions on Customs Union establishment shall be carried out on the basis of EAEC (Eurasian Economic Community) taking into account the CES project best practice. Organizational structures on CES establishment now operate on the EAEC Secretariat platform. This decision was reasonably dictated by the fact that purposes and objectives of EAEC and CES are identical: establishment of common market and common economic space.
A short extract from the CES Concept:
The purpose of CES establishment is creation conditions for stable and effective development of the member-states economics and improvement of life quality of the population.
The underlying principles of the CES operation are securing free transfer of commodities, services, capital and manpower across the borders of the member-states.
The principle of free commodity transfer stipulates elimination of exemptions from free market mode and removing mutual trade constraints based on customs tariffs standardization, establishing common customs tariff prescribed on the ground of the procedure coordinated by the member-states, non-tariff regulation measures, application of regulating tools for trading with the third countries
CES is being formed gradually by integration level increase, through synchronization of economy transformation performed by the member-states, joint measures on pursuing coordinated economic policy.
Integration directions and their realization efforts are defined based on the corresponding international agreements and CES authorities’ decisions stipulating their full-scale executive force for each member-state as well as their implementation arrangement and liability for non-performance of the concerted decisions.
Formation and operation of CES is carried out taking into account WTO (World Trade Organization) rules and guidelines.
CES formation procedures coordination is performed by the relevant bodies established on the basis of separate international agreements. The bodies are structured in respect of integration levels.
The legal platform for forming and operation of CES are international agreements and CES bodies’ decisions, concluded and made with due account for interests and legislation of the member-states and in line with generally recognized norms and principles of international law.