JSC IC «KazakhExport» took part in the Eurasian Economic Commission’s discussion of trade, economy and financial policy issues
On October 16, 2014, the Eurasian Economic Commission’s discussion was held in Moscow city with participation of «KazakhExport», Belarusian export insurance company “BelEksimGarant”, and Russian Agency for Export Credit and Investment Insurance “Exiar” as per Eurasian Economic Union Treaty that will come into force from January 1, 2015.
Following the results of that event, current issues of increasing export potential of the Customs Union enterprises through promotion of goods and services export to other countries as well as promotion of transnational goods turnover between the member countries of the Union were discussed. Also, there were mentioned preconditions for implementation through establishing a unified database of member countries, common approaches in the area of joint risk reinsurance, synchronization of government export support conditions, creation of new insurance products and solutions under conditions of national support systems improvement.
Over the period of the Customs Union’s activity member countries’ mutual goods turnover grew by 36%, i.e. from USD 47.1 billion in 2010, up to USD 64.1 billion in 2013, and growth rates of the mutual goods turnover volume slightly exceeded the growth rate of foreign trade volumes of the member countries. A growth of GDP indices, industrial output and investments in the economies of member countries during the period of 2012-2013 years is also a confirmation of the project’s success.
For reference:
The Customs Union of the Republic of Kazakhstan, the Republic of Belarus and the Russian Federation (CU) established in accordance with the Treaty on establishment of a single customs territory and formation of the Customs Union dated October 6, 2007, has started its activity since January 1, 2010. The Union provides for elimination of all customs barriers in trade between member countries.
On May 29, 2014, the presidents of three countries signed Eurasian Economic Union Treaty in Astana city to remove barriers for free movement of goods, services, capital and manpower, implement a coordinated, coherent or unified policy in key sectors of economy, marking the move to the stage of integration following the CU and CES and aiming at further deepening of the Eurasian economic integration while fully preserving political independence and established cultural identity of the sovereign states being the members of the Union.
