Friday 13 January 2012

Eurasian Union

Russia, Belarus and Kazakhstan a deal to set up 'joint body' to oversee and regulate the economy and trade in three nations, paving the way for 'economic union' of these former Soviet Nations.The proposed Eurasian Union will also have a common government.

- Eurasian Commission will officially come up in Jan. 2012. It will control the economic, trade and currency policies from authorities of 3 countries.The commission will also assist the establishment of Eurasian Economic Union for 3 nations by 2015.It currently headed by Viktor Khristenlo  Russian Minister for Industries.

-The Russian, Belarus and Kazakh authorities are handling over 170 various powers to the Commission.It will replace Customs Union Commission on 1st July 2012.

- The Eurasian Commission will consist of 'a council and a panel'. Council comprising of deputy Prime Ministers from each of three Countries, and Panel consisting of 3 representative of each countries.

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