Economic Activity in the CIS Region
Overview
One of the clearest failures of the CIS has been on the economic front. Although the member states pledged cooperation, things began to break down early on. By 1993, the ruble zone collapsed, with each state issuing its own currency. In 1993 and 1994, eleven CIS states ratified a Treaty on an Economic Union, in which Ukraine joined as an associate member. A free-trade zone was proposed in 1994, but by 2002 it still had not yet been fully established. In 1996 four states, including Russia, Belarus, Kyrgyzstan, and Kazakhstan, created a Customs Union,1 but others refused to join. All these efforts were designed to increase trade, but, due to several factors, trade among CIS countries has lagged ...
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