Kazakhstan’s trade turnover within EAEU grows by 33 percent

Kazakhstan’s trade turnover within EAEU grows by 33 percent

Kazakhstan has become more attractive to foreign countries. Kazakh Vice Minister of Trade and Integration Zhanel Kushukova spoke about the advantages of taking part in the Eurasian Economic Union. A big plus of such cooperation is primarily a capacious consumer market, which supplies goods to 184 million people. The speaker announced that legal registration of the Union has now been completed, enforcing free movement of goods, services, capital as well as labor migrants, for whom all necessary conditions are currently being created.

“We mutually recognize educational documents, we’ve established periods of stay without registration, 30 days from the date of entry, we have no restrictions on employment. I must say that we have reached agreements on the functioning of a single market for services in 53 sectors,” said Zhanel Kushukova.

It is worth noting that Kazakhstan’s mutual trade with partners grew by 33 percent during the EAEU’s work. There is also growth in the volume of export by 4 percent, wherein sales of processed products increase. In general, the assortment of the export basket of Kazakhstan has doubled. This largely became possible due to the reduction of the documentary load, meaning that now there is no bureaucracy. For example, experts excluded customs declaration of goods as well as mutual recognition of conformity certificates. Cooperation with the EAEU countries has a positive impact on the country's agro-industrial complex. This work will continue, noted the representatives of the relevant department at a briefing.

“As part of the upcoming work, we plan to intensify measures to remove existing obstacles and barriers in agricultural products trade, to realize Kazakhstan’s export potential, including by means of negotiating and signing contracts with large trading networks of the EAEU member states and developing a system of wholesale distribution centers as well as personnel training in the field of agro-industrial complex,” added Nurbek Dairbekov, Kazakh Vice Minister of Agriculture.

Moreover, EAEU business owners eagerly invest in the country. The growth here amounted to 6 percent of the total volume of direct foreign investments. The number of enterprises with the participation of the union capital has also doubled.


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