Azernews.Az

By Aynur Jafarova

Kazakhstan's trade turnover with other Customs Union member countries -- Russia and Belarus -- exceeded $24 billion in 2013.

These remarks were made by Kazakhstan's Vise Minister of Regional Development Kairbek Uskenbayev at a press-conference in Astana.

"The cooperation of three countries -- participants of the Single Economic Space has been intensified within the framework of the union. According to the results of last year, Kazakhstan's trade turnover with Russia and Belarus exceeded $24 billion," he noted.

He also stressed the huge market of the Eurasian Economic Union opens great opportunities for Kazakh entrepreneurs.

"Today the products with the 'Made in Kazakhstan' label should be focused not only in the domestic market of the country, but also beyond it," Uskenbayev said.

He went on to note that if Kazakhstan's export grew by 7 percent in 2011, it increased by more than twice in 2013. The positive trend is also observed in the export of Kazakh agricultural products.

"The export of products of Kazakhstan's agro-industrial complex to the Customs Union markets has reached $1 billion in three years," he stressed.

Uskenbayev also said the Customs Union has significantly expanded the commodity market boundaries for Kazakh producers. In 2011, Kazakhstan's export to Russia increased by 60 percent, and to Belarus - more than twice.

The Customs Union of Belarus, Kazakhstan and Russia was established in 2010. The purpose of the organization is to form a single customs territory within which no customs duties or economic restrictions are applied. The Single Economic Space of the Customs Union started operating on January 1, 2012.

The history of the EEU began in November 2011 with the signing of a series of documents, particularly a declaration on the establishment of the Eurasian Economic Integration and an agreement on the establishment of the Eurasian Economic Commission and its regulations.

The heads of Russia, Belarus, and Kazakhstan are expected to sign an agreement on the establishment of the EEU in May, 2014, and the organization will start its activity on January 1, 2015. The main conditions to join the organization are having unified tariffs and technical regulations, harmonizing labor and immigration legislation, and establishing a unified banking system.

Chairman of the Kazakh Majilis committee for international affairs, defense and security, Maulen Ashimbayev has said Kazakhstan's trade turnover with Turkic-speaking countries hit $7.5 billion.