Kazakhstan’s trade turnover with Customs Union grew 2.1 times for the first five months

Kazakhstan’s trade turnover with the Customs Union states for the first five months of the year grew 2.1 times, reaching $9.4 billion. This figure accounts for 19.6% of the overall Kazakhstan’s trade turnover. Kazakhstan’s exports to Russia grew by 59.6% for the period under review, with exports to Belarus growing 2.3 times. Imports from Russia mounted 2.6 times, with imports from Belarus growing by 6%, Minister for Economic Development and Trade Kairat Kelimbetov said at a government’s sitting July 26. July 1, 2011 customs border inside the Customs Union was removed completely. “Thus, works to create the common customs territory with a population of 168 million people have been virtually completed”, the Minister said. The Customs Union between Russia, Kazakhstan and Belarus came into existence on January 1, 2010 to boost trade and investment. According to the statement made at the press-conference in Minsk, the Customs Union was formed on the WTO principles.