Russia has joined four ex-Soviet nations in creating a new alliance aimed at boosting economic and trade ties among the member states. Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan have joined to form the Eurasian Economic Union (EEU), which is schedule to come to existence on January 1. The new union will bring together some 170 million people and produce a combined economic output of USD 4.5 trillion, Russian President Vladimir Putin confirmed on Tuesday. The EEU will help coordinate member states’ financial systems and regulate their industrial and agricultural policies as well as labor markets and transportation networks. Other countries that are aiming to join the EEU include the former Soviet states of Tajikistan and Uzbekistan.
Posted on: Tue, 23 Dec 2014 23:06:45 +0000
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