The Customs Union of Russia, Belarus and Kazakhstan

After two decades of political independence, regional economic integration is well underway in Eastern Europe, namely a customs union between Russia, Belarus and Kazakhtan. In January of 2010, the three states boldly began to link their economies by forming a customs union that they say will evolve into a more ambitious common market by 2012, with Russia as its hub.

As of July 1, 2011, all customs borders between these three states have been removed, though duties and tariffs have not been fully abolished. Customs clearance of goods originating in any of these three states, along with goods that have been imported into one of these three states from other countries and released for free circulation, may be transferred between the three states without undergoing customs clearance and customs control procedures.
This article will take an in-depth look at what constitutes a Customs Union transaction, changes in the procedures for the movement of goods within the Union, common external tariff changes for third party goods coming into the Customs Union, and the next steps for the development of a common market.

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