"If all goes as planned, I believe we will be able to bring into force a regulatory package on the establishment of a customs union in late 2007 - early 2008," Grigory Rapota said.
He said the legal basis for the customs union, which envisions no duties or taxes for imports or exports within the organization, would be completed this year. Eurasec comprises Russia, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan and Belarus, and includes Moldova, Armenia and Ukraine as observers.
The leaders of Eurasec, set up in 2000, discussed the union's establishment at a summit in the Russian southern resort of Sochi last week.
The idea of a customs union was suggested long ago, but its establishment has been hindered by the fact that Eurasec members are in different stages of accession to the World Trade Organization (WTO). The members have now agreed, though informally, that integration in Eurasec and the accession of its members to the WTO should be harmonized until the establishment of a customs union.
Kyrgyzstan is a WTO member, Russia's accession is uncertain, and Belarus may not be admitted. It may be assumed, therefore, that a customs union will be assigned the role of an alternative WTO. The presidents decided to complete the relevant legislation by the end of 2006.
Rapota said the exact date for establishing the union has not been set.
