The Russia-Kazakhstan-Belarus Customs Union

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Nearly two years have elapsed since Russia, Kazakhstan and Belarus boldly began to link their economies by forming a Customs Union planned to evolve into a more ambitious common market by 2012, with Russia as its hub.
 
While the three states are still a long way off from the eventual Eurasian Union heralded by Russia’s Prime Minister Vladimir Putin as a bridge between Asia and Europe, the agreement has thus far managed to ease trade among the three large former Soviet economies in a rather short period of time.

In this issue of Russia Briefing, we will assess the implications the Customs Union has on trade, looking broadly at the principles and progress of the union thus far, and clarifying key modifications to the VAT procedures for transactions involving the three member states.

Including:
• Customs Union Background and Basics
• The Next Steps for the Development of a Common Market
• VAT Procures within the Union and between the Union and Third Countries
• Customs Tariff Rates Chart

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