quality:corruption, structural:expansion, information:classification, quality:correction
Common Economic Space

After a 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 of Novo-Ogarevo on 23 February 2003. The Common Economic Space would involve a supranational commission on trade and tariffs that would be based in Kyiv, 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 Verkhovna Rada (the Ukrainian Parliament) voted 266 votes in favour 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 had 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 27 April 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 following WTO principles". Ukraine has been a WTO member since 2008.

A Customs Union of Belarus, Kazakhstan and Russia was thus created in 2010, A single market had been envisioned for 2012, but instead the customs union was renamed as the Eurasian Customs Union and expanded to include Armenia and Kyrgyzstan in 2015.