Follow us:
  • Facebook
  • Twitter
  • Google+
  • AppStore
  • RSS
Azernews.Az
Sunday January 17 2021
  • Latest
  • Nation
  • World
  • Business
  • Oil & Gas
  • Armenian Aggression
  • Nagorno-karabakh conflict
  • Editorial
  • Analysis
  • Lifestyle
  • Events
  • Healthcare
  • Culture
  • Sports
  • Travel
Home
  • Home
  • Nation
  • World
  • Business
  • Oil & Gas
  • Armenian Aggression
  • Nagorno-karabakh conflict
  • Editorial
  • Analysis
  • Lifestyle
  • Events
  • Healthcare
  • Culture
  • Sports
  • Travel

Trade volume between Kazakhstan, EAEU revealed

3 April 2019 18:24 (UTC+04:00)
1 436

By Abdul Kerimkhanov

Foreign trade of Kazakhstan with the EAEU countries totalled $19.1 billion in 2018, which is 10.1 percent more than in 2017 ($17.1 billion).

The import component in the structure of commodity turnover is 69.2 percent, or $ 13.2 billion. The export of domestic goods and services to the countries of the commonwealth, in turn, is 30.8 percent ($5.9 billion).

In January 2019, the trade turnover between Kazakhstan and the EAEU amounted to $ 1.4 billion.

The growing rates of mutual trade between Kazakhstan and the EAEU member countries are supported by investment activity from regional partners. Only in January-September 2018, the inflow of foreign investments into the national economy from the EAEU amounted to $ 1.2 billion - 30.9 percent more than the same period a year earlier.

At the same growth rate, the result of 2018 could be Foreign Direct Investments (FDI) in the amount of $ 1.5 billion.

In addition to the growth in the volume of investments themselves from the EAEU countries, their share also increases. In January – September 2018, the share of FDI from the EAEU was 7.1 percent, whereas a year earlier it was only 5.9 percent. The increase in the presence of assets of regional partners in the economy of Kazakhstan indicates a growing investor interest in potential industries.

Maintaining the rate of growth of foreign investment in the country will increase production and export potential.

The heads of the member states adopted a Declaration on the further development of integration processes within the EAEU and determined the future vector of the Union’s development on December 6, 2018.

The Eurasian Economic Union also known as the Eurasian Union, is a political and economic union of states located in central and northern Eurasia.

Key areas include maximizing of the EAEU’s single market efficiency and realizing its opportunities for business and consumers by completely eliminating barriers and minimizing exemptions and restrictions for the free movement of goods, services, capital and labor in the EAEU market.

In October 2016, the EAEU and Vietnam launched a free trade zone (FTZ).

On May 17, 2018, a temporary agreement on the establishment of an FTZ with Iran and an Agreement on Trade and Economic Cooperation between the EAEU and China were signed within the Astana Economic Forum.

By 2025, common markets for gas, oil and petroleum products will be formed within the EAEU framework.

---

Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94 

Follow us on Twitter @AzerNewsAz

  • #EAEU
  • #TRADE
  • #KAZAKHSTAN

Related News

Parliamentary election ensures free expression of will of Kazakh citizens - CIS observer mission

Parliamentary election ensures free expression of will of Kazakh citizens - CIS observer mission

12 January 11:14
OSCE welcomes efficient organization of elections in Kazakhstan

OSCE welcomes efficient organization of elections in Kazakhstan

11 January 18:29
Kazakhstan to announce preliminary results of election at press conference on Jan. 11 – Azerbaijani MP <span class="color_red">[PHOTO]</span>

Kazakhstan to announce preliminary results of election at press conference on Jan. 11 – Azerbaijani MP [PHOTO]

10 January 17:00
Azerbaijani MPs to observe parliamentary elections in Kazakhstan

Azerbaijani MPs to observe parliamentary elections in Kazakhstan

6 January 17:12
Turkmenistan appoints new ambassador to Kazakhstan

Turkmenistan appoints new ambassador to Kazakhstan

4 January 13:11
Law on public councils expands rights and responsibilities of members – Kazakh Information Minister

Law on public councils expands rights and responsibilities of members – Kazakh Information Minister

4 January 11:47
Kazakh Health Minister names regions, cities in ‘red’ and ‘yellow’ zones for COVID-19 spread

Kazakh Health Minister names regions, cities in ‘red’ and ‘yellow’ zones for COVID-19 spread

4 January 11:15
Kazakhstan to continue on chosen path of reforms

Kazakhstan to continue on chosen path of reforms

26 December 2020 13:59
Kazakh president congratulates Ilham Aliyev in phone call

Kazakh president congratulates Ilham Aliyev in phone call

24 December 2020 12:35
Kazakhstan introduces bill on economic recovery

Kazakhstan introduces bill on economic recovery

21 December 2020 16:26
  • Latest
  • Popular
16 January 18:01 • Whole world to see rapid economic recovery in Azerbaijan's liberated lands - Russian MP
16 January 17:48 • Afghanistan always supports Azerbaijan in its just cause - Ambassador
16 January 17:25 • Azerbaijani, Finnish FMs discuss latest situation in region
16 January 17:19 • Azerbaijani, Russian FMs exchange views on tasks of Jan. 11 joint statement
16 January 17:13 • Shusha's residents proud of seeing Azerbaijani president in Shusha city
16 January 16:44 • Int'l structures willing to cooperate for 'Green Energy Zone' in Azerbaijan's Karabakh (PHOTO) (PHOTO)
16 January 16:33 • Azerbaijani Economic Council holds first meeting in 2021
16 January 16:02 • Azercell’s Mobile Eye and Mobile Dental Clinics provided free medical service to the hundreds of residents in 2020! (PHOTO) (PHOTO)
16 January 15:38 • COVID-19 infection rate falling in Azerbaijan - TABIB
16 January 15:21 • Summary of Operational Headquarters' amendments to quarantine regime in Azerbaijan
16 January 14:59 • Azerbaijan shares footage from Mirzajamally village of Fuzuli district (PHOTO/VIDEO) (PHOTO/VIDEO)
16 January 14:43 • Azerbaijan shares footage from liberated Hajikand village of Kalbajar (PHOTO/VIDEO)
16 January 14:00 • Azerbaijan to start vaccination against COVID-19 on January 18
16 January 13:10 • Weekly review of Azerbaijani currency market
16 January 12:59 • Azerbaijan to resume activity of shopping centers, museums, barbershops
16 January 12:47 • After desecrating busts of our genius personalities, Armenians took them to Armenia to be melted down and sold - President Aliyev
16 January 12:39 • It is impossible to imagine Shusha without Jidir Duzu, and Azerbaijan without Shusha - President Aliyev
16 January 12:23 • In May 1992, Shusha was occupied as result of betrayal of PFPA-Musavat duo - President Aliyev
16 January 12:16 • Azerbaijan cancels SMS-permissions for leaving homes due to COVID-19
16 January 12:11 • Azerbaijan softens toughened quarantine regime
16 January 18:01 • Whole world to see rapid economic recovery in Azerbaijan's liberated lands - Russian MP
16 January 16:02 • Azercell’s Mobile Eye and Mobile Dental Clinics provided free medical service to the hundreds of residents in 2020! (PHOTO) (PHOTO)
16 January 11:13 • It is such unique feeling to see Shusha, to return to Shusha - President Aliyev
16 January 12:01 • Mausoleum of Molla Panah Vagif was inaugurated exactly 39 years ago, I was standing right here - President Aliyev
16 January 11:45 • Commander-in-Chief came to Shusha for first time in 30 years and, frankly, does not want to leave - President Aliyev
16 January 10:12 • Int'l community must condemn Armenia's actions against Islamic religious monuments - Azerbaijani MP
16 January 16:44 • Int'l structures willing to cooperate for 'Green Energy Zone' in Azerbaijan's Karabakh (PHOTO) (PHOTO)
16 January 12:47 • After desecrating busts of our genius personalities, Armenians took them to Armenia to be melted down and sold - President Aliyev
16 January 14:00 • Azerbaijan to start vaccination against COVID-19 on January 18
16 January 11:29 • Armenia must answer in international courts - Azerbaijani MFA
16 January 11:57 • Today, I brought busts of our geniuses Khurshidbanu Natavan, Uzeyir Hajibayli and Bulbul to Shusha - President Aliyev
16 January 11:04 • All martyr families will be provided with apartments and houses by state - President Aliyev
16 January 10:00 • Azerbaijan softens toughened quarantine regime
16 January 10:22 • Azerbaijan, Pakistan eye prospects of military cooperation, joint drills
16 January 12:39 • It is impossible to imagine Shusha without Jidir Duzu, and Azerbaijan without Shusha - President Aliyev
16 January 15:21 • Summary of Operational Headquarters' amendments to quarantine regime in Azerbaijan
16 January 12:16 • Azerbaijan cancels SMS-permissions for leaving homes due to COVID-19
16 January 17:25 • Azerbaijani, Finnish FMs discuss latest situation in region
16 January 10:37 • Azerbaijan establishes National Agency for Mine Clearance of Territories of Azerbaijan
16 January 12:23 • In May 1992, Shusha was occupied as result of betrayal of PFPA-Musavat duo - President Aliyev
See more
AzerNews Newspaper
AzerNews
  • Facebook
  • Twitter
  • Google+
  • RSS

Information

About us Contacts Advertising Azernews In Print

News Archive

© 2021 AzerNews. All rights reserved