USD 435.1 EUR 493.27
RUB 5.69 CNY 68.63

What are the benefits of EEU expansion for Kazakhstanis?

12 August 2015 16:50
Share in:
What are the benefits of EEU expansion for Kazakhstanis?

ASTANA. KAZINFORM - The customs control on the border of Kazakhstan and Kyrgyzstan has been removed today within the framework of Kyrgyzstan accession to the EEU. Earlier, Armenia joined the union. The Customs Union has five members: Kazakhstan, Russia, Belarus, Armenia and Kyrgyzstan.

Many experts were worried about these prospects bringing the European Union into comparison meaning that the constant expansion led to unequal economic level within the Union. Thus, the last joined members are considered to be the countries that require donations from stronger countries weakening the Union.

Such a scenario is impossible for the EEU because the integration between the EEU member states is held in the economic sphere only, without transferring any state governmental functions. However, given there will be no negative results, many people doubt this integration. We need to consider this aspect additionally.

First of all, opening of borders will be an impetus for interaction between business structures of both countries. Now, during the crisis it is even more important. The trade indicators are falling down, and now we have another market available for Kazakhstani manufacturers, which is quite developed in terms of logistics and quite favorable in terms of geographical proximity. Russian and Belarusian markets are not new for Kazakhstan, and Kyrgyzstan is really like am undeveloped deposit for Kazakhstan especially taking into account that we have common history, mental outlook and neighbor relations. It means that businessmen from Kazakhstan will be able to supply their products to Kyrgyzstan and have good benefits and accordingly develop their business.

Secondly, those products that Kyrgyzstan will be selling in Kazakhstan have to be made in accordance with the standards of the EEU. Thus, there will be no risk to buy infringement products. All the products sold within the borders of the Union will be the same, meeting common requirements.

Thirdly, this is beneficial for the country itself, because as Minister of National Economy Yerbolat Dossayev told, Kazakhstan would presumably increase its export of flour and grain to the neighboring country by 50-60%. This, in turn, is going to be beneficial for the entire agricultural sector.

There are many other aspects that show a great potential of this move initiated by the presidents and supported by the governments. The increase of the wellbeing of the population will be the key result showing the rightness of the decision.

Share in:
Read also
Employees online