You're reading: Ukraine to consider Customs Union accession (updated)

St. Petersburg - Ukrainian Prime Minister Mykola Azarov has instructed his country's Economic Ministry to analyze the possibility of joining the technical regulations effective in the framework of the Customs Union.

Azarov has informed this to the heads of government from the Eurasian Economic Community countries at a meeting in St. Petersburg.

For his part, Russian Prime Minister Vladimir Putin called the decision by Ukraine "a very important step forward" toward the integration with the Customs Union.

The Customs Union countries "will do everything to agree upon all the positions in this area of cooperation," he said. This decision by Ukraine should have a positive effect on the practical work of market players, the Russian prime minister said.

Putin wished Ukraine economic success. The budget deficit figure – 18% – announced by Azarov, is "even more than in some European Union countries, where the deficit was 13%," he said.

Azarov retorted that Ireland’s budget deficit was over 30%.

"We want to wish you success. Judging by the figures you announced, the situation in Ukraine will be changing in a positive direction," Putin said.