Common Economic Space to solve many problems.

MOSCOW, December 20 (Itar-Tass) - The creation of the Common Economic
Space between Russia, Belarus and Kazakhstan will lower credit rates in
Russia, Evgeny Fyodorov, a member of the United Russia Party and the head
of the Russian State Duma Committee for Economic Policy and
Entrepreneurship, told Itar-Tass.

The leaders of the three countries met at an informal summit in
Kazakhstan on Saturday where they agreed to create the Common Economic
Space by January 1, 2012.
"The Common Economic Space will considerably strengthen our economy
and that will automatically tell on the citizens," the deputy went on to
say.
"Its creation will make it possible to speed up the implementation of
goals laid down in the 2020 Strategy."
"In the economic sense we will practically live in one single state
that will consist of three political entities and one economic entity,"
Fyodorov went on to say.
The Common Economic Space will provide for the strengthening of
regional currencies. The deputy said that it was still difficult to
forecast anything: whether a single reserve currency will be created or
whether a single rouble will be used for calculations.
Another positive moment will be more active movement of goods taking
into account that Russia, Belarus and Kazakhstan mutually complement each
other in many ways.
"Belarus is actually a regional assembly production, Kazakhstan is a
powerful food producer while Russia has a powerful fuel and energy sector.
Innovative technologies will also advance," Fyodorov emphasized.