Devastating Floods Claim Lives Across Afghanistan, Kazakhstan, and Russia
Tragedy strikes as more than 30 lives are lost in Afghanistan due to devastating floods triggered by seasonal rains
The presidents of Russia, Belarus and Kazakhstan have reached agreement on the creation of a customs union among the three ex-Soviet states from July 1, 2010.
"This is a very significant and long-awaited decision, resulting from difficult negotiations," Russian President Dimitry Medvedev announced in Minsk, the capital of Belarus, on Friday.
"This switch to a joint economic zone is a completely new economic format," he stated, adding that the three-state union would in future be open to other members.
"From July 1, the new customs union will begin to function on the territory of Russia, Belarus and Kazakhstan," Belarussian President Alexander Lukashenko said.
Nursultan Nazarbayev, Prsdient of Kazakhstan, estimated that the creation of the new trade bloc would lift the GDP of each of the three countries by 15% by 2015.
Russia's Prime Minister Vladimir Putin had surprised the World Trade Organization (WTO) in June, by saying that Russia would apply to join the trade organization as a single customs bloc with Belarus and Kazakhstan.
Russian President Medvedev has since said that each country would pursue membership with the WTO separately, despite an effort to coordinate their accession talks.
Russia is the only remaining major world economy not to be integrated into the WTO system. Accession talks began in 1993, but the United States has called Russia's accession into question after its war with Georgia in August 2008.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
The European Parliament has voted to impose a €10,000 limit on cash payments within the European Union
French President Emmanuel Macron issued a stark warning to Europe, urging the continent to confront the challenges of a rapidly changing world
In a recent statement, Russian Deputy Foreign Minister Sergei Ryabkov issued a stern warning to Poland, asserting that any permanent deployment of NATO nuclear weapons on Polish soil would render the country a military target for Russia.
Reports confirm that Ukraine has deployed long-range ballistic missiles provided by the United States in secret, targeting Russian forces in occupied territories
President Volodymyr Zelensky of Ukraine has pledged to take all necessary measures to compensate for the six-month delay in receiving a new 61 billion dollars US aid package
Russia has declared its intention to repatriate 48 deported Ukrainian children to their families, according to Maria Lvova-Belova, the Russian Commissioner for Children's Rights
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022