EAEU - new major economic center of the world: Per aspera ad astra

Despite the existing skepticism and opposition of some forces within each of the participating countries, as well as extra-regional states, the process of economic integration of Kazakhstan, Russia and Belarus has entered its final phase - the establishment and functioning of the Eurasian Economic Union (EAEU). May 29 in Astana, the Treaty establishing the EAEU was signed by the Heads of Kazakhstan, Russia and Belarus. Long way of the idea of Eurasianism EAEU has been created in purely economic format of interaction between Kazakhstan, Russia and Belarus, but its promotion and realization required political will of the three Heads of states, in the first place, of "the architect of the Eurasian integration" Nursultan Nazarbayev. Putting forward his concept of Eurasianism 20 years ago, he consistently made efforts to implement it. As a result, in 2000, the parties signed the Agreement on establishment of the Eurasian Economic Community. 2010 marks the beginning of work of the Customs Union, and 2012 - the Common Economic Space. In December 2012 former Secretary of State Hillary Rodham Clinton accused Mr Putin of seeking to revive the Soviet Union, which collapsed in 1991. She added that Washington will try to ‘find effective ways to slow down and prevent the integration". It should be noted that all previous and subsequent criticism of the West and other opponents of the EAEU was based on the thesis of the actual revival of the Soviet Union under the pressure of Russia. Treaty establishing the EAEU Following the meeting of the Supreme Eurasian Economic Council in the narrow format the Kazakh President Nursultan Nazarbayev announced the completion of the colossal work on the preparation of the Treaty establishing the EAEU. According to his words, the document covers all the basic aspects inherent in international organizations, enshrines the principles of sovereign equality, territorial integrity, and respect for the particularities of the political systems of the members of the union. "The important point is that decision-making at all levels of the organization is based on the principle of consensus. Thus, the ‘voice' of each party will be determinative", stressed the Kazakh President. Nursultan Nazarbayev noted that the personnel policy in the organs of the Union (Eurasian Economic Commission will be located in Moscow, Eurasian court - in Minsk, and the financial regulation body - in Almaty) will be formed on the basis of the principle of equal representation of the member-states. Russian President Vladimir Putin noted the symbolism of signing the agreement in the capital of Kazakhstan. "The idea of creating this trade union was voiced by the Kazakhstani president Nazarbayev back in 1994 making a speech at Moscow State University", he said. The interest of other countries towards the EAEU Kazakhstan President Nursultan Nazarbayev said during the signing ceremony in the Kazakh capital of Astana that two more former Soviet states, Armenia and Kyrgyzstan, are set to join the Customs Union and the Eurasian Economic Union within 2014. "We agreed and worked out "road map". If Armenia and Kyrgyzstan implement our requirements, and reach the needed level of readiness to join the Customs Union we will be glad to welcome them", President of Belarus Alexander Lukashenko said in this context. "The world's largest economic players express an interest in the Eurasian Economic Union," Vladimir Putin, President of Russia, said addressing the sitting of the Supreme Eurasian Economic Council in Astana. Potential and prospects of the EAEU The three heads of states in their statements have focused on the fact that they form the largest common intra-CIS market with 170 mln population, huge production, scientific and technologic potential and immense natural resources worth up to USD 40 trillion, and almost 15 % of world oil reserves. It is the world's largest exporter of energy and wheat. Geographical position allows the participating countries to create EAEU transportation and logistics routes of regional and global importance. There was expressed confidence that the establishment of the EAEU will be a powerful incentive for the comprehensive modernization of the economies of Kazakhstan, Russia and Belarus.