Single Economic Space to boost foreign investment inflows to CU countries - Kazakh President

SCOW. December 20. KAZINFORM /Narymbek Ismagulov/ Starting the Single Economic Space of Kazakhstan, Russia and Belarus will create entirely new opportunities for residents of the three countries, Kazakh President Nursultan Nazarbayev told a briefing following the top level meetings of the Supreme Eurasian Economic Council and EurAsEC Interstate Council on Monday.

"We have been working in the Customs Union for two years, the benefits are obvious. There has been significant growth in bilateral trade: with Russia, we are approaching USD 20 billion, the current increase is 40 percent, and trade with Belarus is also increasing", Nazarbayev noted.

"Starting the Single Economic Space from 1 January 2012 creates the conditions for free movement of goods, labor and capital among the three countries. What are the benefits to Kazakhstan? This will attract foreign investors to the total market of 170 million people," Nursultan Nazarbayev emphasized.