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Kyrgyzstan to increase its investment appeal accessing Eurasian Economic Union — official

November 13, 2014, 18:52 UTC+3 BISHKEK
Russian presidential aide Sergey Glazyev assessed the supposed effect from the republic’s admission to the union at 30% in terms of investment growth
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© ITAR-TASS/Mikhail Metzel

Infographics The Eurasian Economic Union starts its work The Eurasian Economic Union starts its work
The Treaty on the establishment of the Eurasian Economic Union comes into effect on January 1. Infographics by TASS
BISHKEK, November 13. /TASS/. Kyrgyzstan’s accession to the Eurasian Economic Union (EEU) will considerably raise its investment attractiveness, Russian presidential aide Sergey Glazyev said on Thursday.

Kyrgyzstan’s authorities said that all interstate procedures for the country’s accession to the Customs Union and EEU will be completed by the end of December.

The document’s signing is planned in Moscow on December 23.

Glazyev assessed the supposed effect from the republic’s admission to the union at 30% in terms of investment growth.

“If all the conditions are met, the integration effect will cause the economy growth by this figure,” he said at the conference “Economic security of Kyrgyzstan: risks and opportunities.”

Glazyev said that during the first year after the admission to the Customs Union Russia’s foreign trade volumes increased by 40%, which confirmed “the correctness of the choice made,” during the second year the growth was 20% and during the third - 10% “The effect has begun to fade, so it is necessary to support it,” the Russian presidential aide said. He said the need of transition to the “next phase” of integration has arisen in this connection.

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