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Medvedev calls for common currency within Common Economic Zone

 

Russian Prime Minister Dmitry Medvedev suggested on Friday that the three member states of the Common Economic Zone (CEZ) should consider the introduction of a common currency.

Speaking at a business forum in St.Petersburg, Mr. Medvedev stressed that Belarus, Kazakhstan and Russia must consider the possibility in view of "instability in global markets" and the expected creation by the three countries of the Eurasian Economic Union in 2015.

"This is not a subject of our present-day concerns, but we must think about what our prospects are," Russia's news agency RIA Novosti quoted Mr. Medvedev as saying.

The former Russian president warned that countries other than Belarus, Kazakhstan and Russia should not expect to enjoy the benefits offered by membership of the CEZ unless they joined the economic bloc and met its requirements in full.

Mr. Medvedev also assured Kazakhstan and Belarus that they would be able to join the World Trade Organization (WTO) despite the establishment of the CEZ.

"At some point we were sent an unambiguous message that 'if you guys do this [create the CEZ], we will not admit you into the WTO.' Well, they finally did. And will admit you as well," he was quoted as saying.

Me. Medvedev promised that Moscow would provide every kind of assistance to Belarus and Kazakhstan in their efforts to join the global trade body.

The event was attended by Belarusian Prime Minister Mikhail Myasnikovich. //BelaPAN