The agreement on forming the Common Economic Space was signed by the leaders of Russia, Ukraine, Belarus and Kazakhstan on September 19, 2003. The next two years saw active work to put in place the legal base for a customs union within the Common Economic Space.
Work on a first package of 38 agreements is now practically complete.
At a meeting with the Cabinet, President Vladimir Putin noted that Russia, Kazakhstan and Belarus are ready now to sign the documents and called on the government to swiftly round up the negotiating process on the first package of economic agreements.
Ukraine is taking part in the negotiations but at this stage is ready to sign only part of the documents. Mr Putin noted that this is a positive step but that joining the Common Economic Space requires signing the whole package.