The volume of bilateral trade in the framework of the Customs Union in 2011 increased by about 40%, said Tuesday a member of the board (the Minister) of the Eurasian Economic Commission for Europe (ECE) in the main areas of integration and macroeconomic Tatiana Gross.
"Since the establishment of the Customs Union (1 January 2010 — approx. LOOK) growth of mutual trade grow, grow very confident," — she said at the conference "Open Russia: from the Single Economic Space to the Eurasian Union" in Moscow. Despite the fact that there is, according to Gross, plays its role and the price factor, the trend is "very encouraging", reports "Interfax".
However, until the volume of mutual trade of member countries of the Customs Union's total trade remains relatively small — about 25%. The European Union similar figure is "almost two-thirds," Gross clarified.
ECE is a supranational body of a single economic space of Russia, Belarus and Kazakhstan. Treaty on the establishment of a commission of three heads of state signed in November last year. The main purpose of the ECE — the creation of the Eurasian Economic Union. ECE task is to manage the integration process in the format of the Customs Union and the Common Economic Space of Russia, Belarus and Kazakhstan.
Eurasian Economic Commission is composed of the Board and the Board. Council Committee established at the level of deputy prime ministers of the three countries and has overall control of integration processes. From Russia it became First Deputy Prime Minister Igor Shuvalov.
The College of the commission is the main working body where all countries delegate three representatives in the status of international officials. Chairman of the board is former Minister of Industry Minister Viktor Khristenko.