Azernews.Az

By Abdul Kerimkhanov

Kazakhstan, the second largest economy of the Eurasian economic union (EAEU), is an active supporter of Eurasian integration, which is explained by the economic interests and the geopolitical position of the country.

The volume of mutual trade of Kazakhstan with the EAEU states in monetary terms amounted to $6.1 billion in January-April 2019, which is 0.1 percent more than in the corresponding period of 2018, Kazakhstan’s Statistics Committee informed.

In the reporting period, the volume of Kazakhstan's exports to the EAEU countries made up $1.9 billion (which is 3.8 percent less than in January-April 2018), while the volume of imports was $4.3 billion (+1.9 percent).

As many as 92.6 percent of Kazakhstan's total commodity turnover within the EAEU falls on Russia. Besides, Kyrgyzstan accounts for 4.1 percent, Belarus - 3.2 percent and Armenia - only 0.1 percent of the total foreign trade turnover of Kazakhstan with the EAEU countries.

It is noteworthy that the country’s foreign trade with the EAEU countries totaled $19.1 billion in 2018, which is 10.1 percent more than in 2017 ($17.1 billion).

On May 29, 2014, Kazakhstan and its Customs Union partners signed a treaty to create a common economic space known as the Eurasian Economic Union (EAEU).

The EAEU is expected to further integrate their economies, and provide for the free movement of services, capital and labor within their common territory. The government of Kazakhstan has asserted that EAEU agreements comply with WTO standards.

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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94

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