Russian Federation, Belarus and Kazakhstan Launch Customs Union

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On July 6, 2010, following the adoption of the unified Customs Code, the Customs Union of three former Soviet Union republics - the Russian Federation, the Republic of Belarus and the Republic of Kazakhstan - became operational, constituting a common customs territory with an external customs border and unified Customs Tariff and Customs Regulations. According to the statistics published by the member states, Customs Union will create a common market of approximately 170 million people with US$2 trillion economy, US$900 billion trade and 90 billion barrels of oil reserves. The Customs Union is committed to continuing economic integration towards complete customs borders removal between the member states during 2011.

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Published In: General Business Updates, International Trade Updates, Tax Updates, Transportation Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Alexander Averbuch, Krasik&Averbuch, Attorneys at Law | Attorney Advertising

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Alexander Averbuch
Krasik&Averbuch, Attorneys at Law

Krasik & Averbuch, Attorneys at Law is a boutique Corporate and Commercial Law Firm based in... View Profile »


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