Presidents to discuss alliance for former Soviet states

The presidents of Ukraine, Russia, Belarus and Kazakhstan were gathering today in the Black Sea coast resort of Yalta for two days of meetings on the mechanics of a fledgling economic community meant to boost trade among the former soviet republics and promote growth by increasing investment.

An official statement said the presidents and other high-level officials were to focus on finalising the first stage of the creation of the Single Economic Space, a still amorphous grouping the four nations have agreed to form.

Its creation comes amid efforts by Russian President Vladimir Putin to strengthen Moscow’s influence among its neighbours.

Putin, who arrived late on Saturday, was to hold bilateral meetings today with Ukrainian President Leonid Kuchma, Kazakh President Nursultan Nazarbayev and Belarusian President Alexander Lukashenko, Russian media reported. The four presidents were to meet together on Monday.

Putin and Kuchma were expected to lift restrictions impeding free trade between the two countries, and the four presidents were expected to reach an agreement that would allow their governments to adjust legal discrepancies concerning trade and economic cooperation.

Ahead of the summit, experts met in Yalta on Saturday to hash out the basics of a series of accords on taxes, export and transit of goods and people, a statement said.

Once finalised, the accords should serve “as a sort of economic constitution” for the four countries, Ukraine’s Finance Minister Mykola Azarov said.