Customs Union to enlarge market for Kazakh enterprises tenfold

ALMATY. August 25. KAZINFORM /Daniyar Sikhimbayev/ Customs Union has two components - zero internal duties and external tariff for the third countries, Head of the EDB Economic Analysis Department Evgeniy Vinokourov has said at the press-conference in Almaty.    

According to him, the Customs Union will lead to creation of a single market with the capacity of 170 million people whereas 142 mln people are in Russia, 10 mln and 16 mln people - in Belarus and Kazakhstan respectively. "This means extension of marginality for Russia, since the market is enlarged by 15%. As for Kazakhstan, the market for its enterprises will be enlarged tenfold", he added.

As Member of the EDB Management Board Vladimir Yassinsky noted, the problem of the Customs Union would be discussed at a sitting of  the EurAsEC Integration Committee scheduled for September, 25 in Almaty. "I think single Customs Union will be finally coordinated before the integration committee", - V. Yasinsky said.

According to him, the Customs Union should be considered as a significant integration stage in development of cooperation among Kazakhstan, Belarus and Russia which will activate trade and economic cooperation, mutual investments and transit potential.

As earlier reported, Kazakh President Nursultan Nazarbayev expressed confidence the Customs Union of Kazakhstan, Belarus and Russia would start working since January 1, 2010. Nursultan Nazarbayev said it at a meeting with his Russian counterpart Dmitry Medvedev in Moscow on July, 18.