“Clearly, we need to pursue a unified visa and migration policy at some point, abolishing internal border control. Lifting migration, border and other barriers, so-called labor quotas will allow people to choose freely their place of residence, education, and work”, she said.

Nabiullina said that extensive research into the consequences of Customs Union formation, especially in Europe, as well as other blocs, show that “real benefits of integration are caused not by increasing trade, but by deeper integration, the use of mutual benefits of an economic union”. “This was clear from the start, and this is why the Economic Community was launched simultaneously with the Customs Union”, she noted.

The Minister said that in July 2011 the Russian Federation ratified the legal basis agreements of the Eurasian Economic Community. Kazakhstan ratified the agreements in July 2011 as well, while Belarus ratified them in December 2010. “This paves the way for enforcing all of the Eurasian Economic Community agreements signed in November-December 2010 starting 1 January 2012”, said the Minister.

She pointed out the importance of the added boost for business liberalization in a market with common goods and services standards, which for the most part must comply with European standards.

“This is crucial because we are implementing modern technical standards now, and a joint policy will eliminate technical compliance issues. Moreover, every company in each of the three Eurasian Economic Community member state will be de facto entitled to all the domestic producer benefits, including state contracts”, Nabiullina stated.

Project Group №4