The growth of internal trade in the EEA: 2 years — 45%

Since the establishment of the Common Economic Space in 2010, trade between the EEA member countries — Russia, Kazakhstan and Belarus — grew by 45%, reaching $ 68 billion. Relevant statistics cited by the Minister of competition and anti-monopoly regulation of the Eurasian Economic Commission for Europe (ECE) Nurlan Aldabergenov. According Aldabergenova, in 2010, turnover in the EEA amounted to $ 47 billion in 2011 — $ 63 billion.

How can we evaluate these numbers?
Chairman of the Board of the Eurasian Economic Commission Viktor Khristenko said that the dynamics of mutual trade between the CU and the CES, exactly like the foreign trade with third countries, ahead of the pace of global trade.

But despite more than impressive momentum, experts and officials of the three countries is not entirely happy with the performance and offer a range of solutions to further increase turnover. In particular, the Ambassador of Kazakhstan to the Russian Galim Orzabakov noted that participants in the EEA yet a very small amount of goods that can offer each other for trade. Member of the Board of the Eurasian Economic Commission, the Vice-Minister of Economic Development and Trade of Kazakhstan Timur Suleimenov, in turn, believes that it is necessary to improve the competitiveness of the goods of the three countries and to diversify the economy:

— Must move to ensure that the produce industry agreements, that is, de facto, the laws by which the parties will be assured that the same regulatory systems operate in sectors and fields of Kazakhstan and Russia, and Belarus.

Russian presidential adviser Sergei Glazyev draws attention to the fact that initially the explosive growth of mutual trade was caused by the removal of customs barriers, but now this potential is almost exhausted:

— A further increase in the volume of trade is only possible if the production and scientific-technical cooperation. By 2030, the EEA intends to obtain additional aggregate GDP of $ 1 trillion, and two-thirds of this product can be created only through industrial cooperation. And this requires a common industrial policy and strategy for economic development.

Among other problems of integration association Glazev called unreliable statistics of bilateral trade, which has become difficult to maintain in the absence of customs controls, poor transport infrastructure, lack of a common currency area:

— In mutual settlements now a high proportion of the dollar and the euro, leading to high transaction costs. And if it does not go on the establishment of a single monetary space within the EEA should go to the account in the national currency of the recognition of the Russian ruble a reserve currency.

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