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Russia, Belarus, Kazakhstan to promote fair competition — Putin

May 29, 2014, 18:49 UTC+3 ASTANA

Among the benefits of integration between Russia, Kazakhstan and Belarus Putin named closer economic ties between the countries, better trade structure and better competitive ability of the countries in the global economy

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Vladimir Putin

Vladimir Putin

© ITAR-TASS/Mikhail Metsel

ASTANA, May 29. /ITAR-TASS/. Russian President Vladimir Putin said on Thursday that the countries of the Customs Union (Russia, Belarus and Kazakhstan) were set to promote fair competition on the Union’s market and take efficient measures to protect consumers and businesses.

“Russia, Belarus and Kazakhstan will take measures to promote fair competition on the Customs Union market. At the same time, they will try to ensure maximally efficient protection for their consumers and businesses,” Putin said after a meeting of the Supreme Eurasian Council at the level of heads of state.

The Russian president noted that mutual benefits of integration processes were already felt in practice. Among such benefits he cited closer economic ties between the three countries, a better structure of trade, a bigger share of high-technology goods, and a better competitive ability of the three countries in the global economy.

According to Putin, over the past three years trade turnover within the Customs Union increased by practically 50% or by $23 billion to reach $66.2 billion in 2013. “Belarus and Kazakhstan taken together are third only to the European Union and China in Russia’s trade balance,” Putin said. “It proves that we have reached this level thanks to integration processes.”

The Russian leader said he had discussed with his Belarusian and Kazakh counterparts ways to use the Eurasian Economic Union’s potential to increase trade flows and investments, to expand industrial and technology cooperation. Specific attention, in his words, has been focused on measures to improve the business climate.

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