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A Single Economic Space from Lisbon to Vladivostok Issue 15 • November 2015 RUSSIA BRIEFING WWW.RUSSIA-BRIEFING.COM A Single Economic Space From Lisbon to Vladivostok Including P.04 The Idea of a Single Economic Space from Lisbon to Vladivostok: A History P.07 Free Trade Areas P.12 The European Union and the Eurasian Economic Union - a Comparison P.14 What is a Single Economic Space? P.16 Harmonization, Minimum Standards, and Recognition of Country of Origin P.18 Taxation in an Economic Area P.21 Customs and Certification in the European Union and the Eurasian Economic Union In Cooperation with P.23 Logistics Schemes of Deliveries from EU to EEU P.25 Legal Harmonization in the EU and EEU 1 Introduction The idea of a single economic space between However, in practice, this would be somewhat difficult Vladivostok and Lisbon goes back quite some time and to accomplish: the Eurasian Economic Union (EEU) was not only expressed by Russian President Vladimir has much higher customs rates than the European Putin and German Chancellor Angela Merkel, but Union, and the state budgets of Russia and other was also mentioned in such documents as the recent EEU countries depend to a far greater degree upon position paper of the German-Russian Chamber of customs revenue than those in Western Europe. Commerce. A single economic space is However, in reality the idea based on more than just free never came into action, and trade, and should first and there is currently a lack of a foremost focus more on other more detailed plan of how areas of common interest. such a single economic space These main areas largely would operate. The most surround non-tariff barriers, probable reason for this is that such as product certification, Ulf Schneider most participating countries legal regulations on court Managing Partner have differing understandings rulings, indirect taxes such SCHNEIDER GROUP of the fundamental principles as cross-border VAT, visa of such a project. regulations, etc. The motivation behind the idea appears to be quite The single economic space would comprise of not simple: only the EU and the EEU, but would involve other countries, in particular, Ukraine . • Russia and its neighboring countries possess energy and natural resources and are in need A symbol of the opportunities between Vladivostok of technology. and Lisbon is the single electric plug for the area of • The EU needs natural resources and possesses over 10,000 kilometers from the Pacific to the Atlantic. the relevant technology. It is up to the decision makers in Europe and Eurasia to realize these opportunities. Kind regards, Ulf Schnelder Managing Partner SCHNEIDER GROUP Reference Russia Briefing and related titles are produced by Asia Briefing Ltd., a wholly owned subsidiary of Dezan Shira Group. Content is provided by Disclaim Dezan Shira & Associates’ partner company SCHNEIDER GROUP. All materials and contents No liability may be accepted for any of the contents of this publication. Readers are strongly advised to seek professional © 2015 Asia Briefing Ltd. advice when actively looking to implement suggestions made within this publication. 2 Table of Contents P.04 The Idea of a Single Economic Space from Lisbon to Vladivostok: a History P.07 Free Trade Areas P.12 The European Union and the Eurasian Economic Union - a Comparison P.14 What is a Single Economic Space? P.16 Harmonization, Minimum Standards, and Recognition of Country of Origin P.18 Taxation in an Economic Area P.21 Customs and Certification in the European This Issue’s Topic Union and the Eurasian Economic Union A Single Economic Space P.23 Logistics Schemes of Deliveries from EU to EEU From Lisbon to Vladivostok P.25 Legal Harmonization in the EU and EEU Online Resources from SCHNEIDER GROUP About SCHNEIDER GROUP Stay informed (http://schneider-group.com/news) SCHNEIDER GROUP - 500 experts, six ? countries, your one-stop partner Questions and Answers“ (http://schneider-group.com/answers)” We at SCHNEIDER GROUP provide our The 2015 Asia Tax Comparator international clients with the back office services they need to expand India: Your China Plus One? their business into or within Russia, Kazakhstan, Belarus, Ukraine, Poland and Germany. Our services include market entry support, accounting outsourcing, Online Resources on Emerging Asia tax consulting, import, ERP systems (1C, SAP and Microsoft Dynamics NAV) and Accounting and Reporting support in legal matters with focus on migration, labor and corporate law. AEmploSIA ByingRIEFING Foreign Nationals Across Asia SCHNEIDER GROUP is your one stop partner in Russian speaking countries State by State: ASEAN and Texas Trade and Poland. Understanding Chinese Economic Reform: More information on www.schneider-group.com Where Foreign Investors Go Wrong Yarn Forward’s Effect on the Trans-Pacific Partnership & Vietnam Credits Publisher / Chris Devonshire-Ellis Editor / Edward Barbour-Lacey Design / Jessica Huang & Estela Mi 3 The Idea of a Single Economic Space from Lisbon to Vladivostok: A History Proposition by Vladimir Putin In order to achieve this aim, Mr. Putin envisioned an approach that not only foresees the creation The idea of a single economic space between of a free-trade zone between Russia and the EU, Lisbon and Vladivostok has generally been generally but also more advanced integration measures approved by several statesmen from the countries such as a subsequent harmonization of laws and that would potentially be involved in this project. customs codes in the EU and Russia as well as the elimination of bottlenecks in the pan-European The idea was officially presented by Russian Prime transport infrastructure for enhancing logistics. The Minister Vladimir Putin, in a guest editorial for the result of this process would not only be the creation German daily newspaper Süddeutsche Zeitung. On of a huge area without any barriers to trade, but November 25, 2010, he stated that while striving for also coordinated industrial, ecological, and energy diversification and modernization of its economy, policies. As an accompanying measure, Mr. Putin Russia is still mainly an exporter of fossil fuels and also suggested deepening EU-Russia relations on commodities. On the other hand, the EU will also an interpersonal level by increasing academic and face challenges in the near future as its economy has professional exchanges between both sides. been constantly deindustrialized, with all production capacities moving to other emerging countries that A precondition for this is the abolition of the visa will soon also have the capabilities of outperforming regime between Russia and the EU, which Mr. Putin the EU in terms of R&D and technology. called the most disruptive factor impeding personal and business contacts. In his view, the abolition of In order to cope with these challenges, Mr. Putin the visa regime should not be the final, but rather proposed that Russia and the EU should combine the first step of a real integration process between their potential and individual advantages by entering Russia and the EU. into an economic symbiosis, complementing one another, increasing overall competitiveness, and However, although Putin’s proposals received thus stimulating mutual growth. He called this extensive media coverage and were controversially partnership “a harmonious economic community discussed in political and academic circles in Russia from Lisbon to Vladivostok”. Such a community and the EU alike, they were neither included in the “would create a common continental market, whose EU’s official political agenda nor promoted by the market volume would equal trillions of euros”. media during the following years. 4 Revival of the Concept in the such a dilemma since the country could have been economically integrated with the EU as well as with Course of the Ukraine Crisis the Eurasian Economic Union without any tensions. Surprisingly, public discussion of the idea re- Therefore, Ms. Valovaya deems a comprehensive emerged during the worsening Russo-European free-trade zone between the EU and the Eurasian relations amid the Ukrainian uprising in winter Economic Union as a crucial factor for a peaceful 2013/2014, Russia’s subsequent reunification with and sustainable solution to the conflict in Ukraine. the Crimea and the civil war in Southeastern Ukraine, From the EU side, the idea was put forward by which led to an imposition of EU sanctions against German chancellor Angela Merkel during the Russia. Understanding the importance of restoring World Economic Forum in Davos in January 2015. EU-Russia relations, several pragmatic policy-makers She stated that there is a definite possibility for on both sides started to revive Putin’s idea from 2010 cooperation between the European Union and the as a way out of the crisis that would benefit all parties. Eurasian Economic Union in a common trade area Since then, the idea has been discussed as a single after a certain level of stability has been achieved on economic space comprising not only the EU and the basis of the Minsk Agreement. According to Ms. Russia, but also the whole Eurasian Economic Union Merkel, this common trade area can perhaps resolve and the countries that lie in between, such as the the “association agreement difficulties between candidates for EU membership, the EFTA member the EU and Ukraine”, but that the precondition is states, Moldova, Georgia, Azerbaijan and, first and sustainable peace in Southeastern Ukraine with foremost, Ukraine. Some of these potential members a full regaining of control over the Russia-Ukraine and their macroeconomic indicators from the year border by the Ukrainian government. 2014 can be seen in Figure 1 below. The German chancellor confirmed this point of view For example, Tatiana Valovaya, Minister of the in a statement she made while visiting her electoral Eurasian Economic Commission for Integration district in April 2015. She underlined the fact that and Macroeconomics, explained in July 2015 how although having “political problems” with Russia at such an all-embracing economic space could solve the moment, the long-term goal for her country is the Ukrainian crisis.
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