Organization of Central Asian Cooperation

Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan formed the OCAC in 1991 as Central Asian Commonwealth (CAC). The organization continued in 1994 as the Central Asian Economic Union (CAEU), in which Tajikistan and Turkmenistan did not participate. In 1998 it became the Central Asian Economic Cooperation (CAEC), which marked the return of Tajikistan. On 28 February 2002 it was renamed to its current name. Russia joined on 28 May 2004. On 7 October 2005 it was decided between the member states that Uzbekistan will join the Eurasian Economic Community and that the organizations will merge. The organizations joined on 25 January 2006. It is not clear what will happen to the status of current CACO observers that are not observers to EurAsEC (Georgia and Turkey).

Common Economic Space

After discussion about the creation of a common economic space between the Commonwealth of Independent States (CIS) countries of Russia, Ukraine, Belarus, and Kazakhstan, agreement in principle about the creation of this space was announced after a meeting in the Moscow suburb ofNovo-Ogarevo on 23 February 2003. The Common Economic Space would involve a supranational commission on trade and tariffs that would be based in Kiev, would initially be headed by a representative of Kazakhstan, and would not be subordinate to the governments of the four nations. The ultimate goal would be a regional organization that would be open for other countries to join as well, and could eventually lead even to a single currency.

On 22 May 2003 The VerkhovnaRada (the Ukrainian Parliament) voted 266 votes in favor and 51 against the joint economic space. However, most believe that Viktor Yushchenko's victory in the Ukrainian presidential election of 2004 was a significant blow against the project: Yushchenko has shown renewed interest in Ukrainian membership in the European Union, and such membership would be incompatible with the envisioned common economic space. Yushchenko's successor Viktor Yanukovych stated on April 27, 2010 "Ukraine's entry into the Customs Union of Russia, Belarus and Kazakhstan is not possible today, since the economic principles and the laws of the WTO do not allow it, we develop our policy in accordance with WTO principles". Ukraine is a WTO member.

A Customs Union of Belarus, Kazakhstan and Russia was thus created in 2010, with a single market envisioned for 2012.

33. Main objectives of economic integration in the EU. The Maastricht Treaty and its convergence criteria. What have European countries achieved in the process of integration by now?