Experts Hail Decision to Establish Common Economic Space

Yury Yarov, Chairman of the Executive Committee and Executive Secretary of the Commonwealth of Independent States, CIS, and Vadim Gustov, in charge of the CIS committee of the Russian Federation Council, or the upper parliamentary house, have given a positive assessment of a recent statement of the presidents of Belarus, Kazakhstan, Russia and Ukraine on establishing the common economic space. They said this as addressing a scientific and practical conference, in Moscow Thursday, entitled "Development prospects for the CIS member countries' co-operation in the economic area." The statement on establishing the common economic space must become a guideline for the CIS countries in tackling common economic problems, opined Mr Yarov. He was hopeful the four countries' decision would prompt progress towards establishing a free trade zone within the CIS.

Mr Gustov believes the initiative will trigger a long-needed revision of current interaction practices.

The four countries' initiative is not an alternative to the CIS, but an attempt to step up economic contacts between the Commonwealth member countries, he said.