OREANDA-NEWS. October 10, 2008. Taking part in the summit were the Presidents of Russia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan.

The meeting discussed the formation by Belarus, Kazakhstan and Russia of a customs union within the EurAsEC framework, with the other member states joining at a later date, and the creation of a common economic space in the EurAsEC area. 

The summit elected President of Belarus Alexander Lukashenko as the new chairman of the EurAsEC Interstate Council. The next summit will take place in Moscow in autumn 2009.

Dmitry Medvedev answered journalists’ questions on the world economic crisis, the Caucasus settlement process and the new treaty on European security following the summit.

The Eurasian Economic Community is an international economic organisation. Its functions include the formation of common external customs borders for the member countries (Belarus, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, and Uzbekistan), and the development of common foreign economic, tariff and price policies and other elements required for the functioning of a common market. 

Armenia, Moldova and Ukraine have observer status in EurAsEC. Acting on a proposal from Kazakhstan and Russia, the Bishkek summit accorded the Eurasian Development Bank observer status in the organization.