icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Kyrgyzstan to join customs union

Kyrgyzstan to join customs union
Kyrgyzstan will join Russia, Kazakhstan and Belarus in the Customs Union, with analysts stressing the need to strengthen trading ties when the global economy is shaky.

The prime ministers of the Eurasian Economic Community (EurAsEc) members-states have given the nod to Kyrgyzstan's accession to the CustomsUnion, acting Kyrgyz Prime Minister Omurbek Babanov announced on Wednesday."The decision has been made today in a narrow format on Kyrgyzstan's accession to the Customs Union.”An action plan for Kyrgyzstan's accession to the Customs Union would be adopted shortly, Babanov added, with a working group and its chairman still to be decided on soon.Anna Bodrova, Investcafe analyst, says the move will strengthen Russia’s economy further, when other markets remain fragile.“In essence, now another step to create a special economic zone has been made, which is so necessary for Russia while it still hasn’t entered WTO. Trade and economy ties with the neighboring countries are important for Moscow, the same way they are for Kazakhstan and Kyrgyzstan.And though so far there’s no talk of creating neither a single currency, nor even a currency union, in the wake of the crisis burning out in Europe this strengthening of trade ties is now especially important. Also, it’s still not clear whether Russia will have joined WTO by the end of this year and whether it’ll be able to receive all trade preferences.”

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.