Moscow to host CSTO, EurAsEC summits on Feb. 4-5

MOSCOW, February (RIA Novosti) - Leaders from two regional economic and security organizations, uniting a number of former Soviet republics, will meet in Moscow on February 4 through 5 for EurAsEC and CSTO summits, a presidential aide said.

Sergei Prikhodko said the Eurasian Economic Community summit, comprising Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan as full members, will focus on overcoming the impact of the global financial crisis, particularly looking at setting up a joint assistance fund.

"The fund worth $10 billion would become an effective instrument to counter negative trends in the economies and finances of member states," the official said.

The parties have yet to develop mechanisms for the fund, initially proposed at an informal summit in Kazakhstan last December.

The leaders will also consider setting up an international hi-tech technology exchange center and implementing innovative projects in member countries.

EurAsEC, established in 2000, also involves Armenia, Moldova, and Ukraine which hold observer status.

The Collective Security Treaty Organization, a security grouping comprising Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, Uzbekistan and Tajikistan, will see its leaders discuss establishing collective rapid reaction forces to counter military aggression, international terrorism, extremism, crime, drug-trafficking and deal with emergency situations.

The talks will also focus on the CSTO budget for 2009 and on whether to confirm an extension to the tenure of Secretary General Nikolai Bordyuzha, whose five-year term is due to expire.