Free Newsletters - Space - Defense - Environment - Energy - Solar - Nuclear
by Staff Writers
Moscow (Voice of Russia) Nov 15, 2012
Experts of the European Bank for Reconstruction and Development have called the Customs Union of 3 former Soviet states "a successful example of economical integration". The Customs Union is an alliance between Russia, Kazakhstan and Belarus which was concluded in 2009 to ease the customs procedures between its member countries.
After the alliance was concluded, the trade volume between the three countries increased 2 times. The reasons for that were that the countries' economies have already to a large extent recovered from the financial crisis and that a unified customs tariff was introduced in the three countries.
Experts of the European Bank for Reconstruction and Development say that membership in the Customs Union is beneficial for all the three of its member countries, although the amount of Russia's economy is much bigger than that of Belarus and of Kazakhstan. In the future, the unified customs laws may also help the three countries to export their goods abroad.
Source: Voice of Russia
News from Russia
Global Trade News
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement|