Highlights of the Customs Union
The authors summarize the main results of two years of the operation of the Customs Union in Belarus, Kazakhstan and Russia, which is hardly impressive in the aftermath of the global financial crisis and economic instability in Belarus. However, the authors stressed that it is too early to jump to...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Russian Academy of Sciences, Institute of Economics of the Ural Branch
2012-12-01
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| Series: | Экономика региона |
| Subjects: | |
| Online Access: | http://www.economyofregion.com/archive/2012/43/2059/pdf/ |
| Summary: | The authors summarize the main results of two years of the operation of the Customs Union in Belarus, Kazakhstan and Russia,
which is hardly impressive in the aftermath of the global financial crisis and economic instability in Belarus. However, the authors
stressed that it is too early to jump to conclusions about the effectiveness of the Customs Union. In addition, the structure of trade,
working arrangements and the list of goods are changed.
Separately it is analyzed the changing economic situation in Kazakhstan, where the increased influx of Russian investments
are after joining the Customs Union fully operational. In different sectors of the domestic economy are active joint Kazakh-Russian
companies because Kazakhstan has more attractive business environment, compared to Russia. Russian companies are interested in
Kazakhstan and produce this product to sell back to Russia or Belarus. For Kazakhstan benefit is job creation, expansion of production
base, increasing tax revenues, new investments. |
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| ISSN: | 2072-6414 2411-1406 |