Kyr­gyzs­tan joins Rus­sia backed eco­nomic bloc

The Pak Banker - - BUSINESS -

BISHKEK: Kyr­gyzs­tan be­came the fifth mem­ber of a Moscow-backed eco­nomic bloc of for­mer Soviet coun­tries, a move firmly link­ing the Cen­tral Asian state to Rus­sia at the risk of dis­rupt­ing trade with China. The im­pov­er­ished na­tion of six mil­lion peo­ple signed ac­ces­sion pa­pers for the Eurasian Eco­nomic Union (EEU) in De­cem­ber, but had to wait for the bloc's four other mem­bers - Ar­me­nia, Be­larus, Kaza­khstan and Rus­sia - to rat­ify its en­try. The bloc's main reg­u­la­tory body, the Eurasian Eco­nomic Com­mis­sion, said on Thurs­day that the rat­i­fi­ca­tion process was "com­pleted" and that it was wait­ing for a fi­nal note from Kyr­gyzs­tan's neigh­bour, Kaza­khstan, which it ex­pects "in the next few days."

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