Russia, Belarus and Kazakhstan will use...

The presidents of Russia, Belarus and Kazakhstan signed a package of deals on November 27 to create a customs union with common tariffs, paving the way for a single economic space.

The three countries are planning to introduce a common customs space in July 2010 and form a single economic space in January 2012.

The customs union will bring Russia an additional $400 billion in revenue and over $16 billion to Kazakhstan and Belarus.

The union could help the countries take key positions on the global energy and grain markets.

The countries" aggregate GDP is $2 trillion, and their trade turnover is estimated at $900 billion.

MOSCOW, January 1 (RIA Novosti)