Business news

MOSCOW, 12 April (BelTA) – Belarus’ investments in the Kyrgyzstan economy have increased by 45 times after Kyrgyzstan joined the Eurasian Economic Union. The statement was made by Sergei Shukhno, Deputy Director of the Integration Promotion Department of the Eurasian Economic Commission, at the international forum Eurasian Economic Perspective in Bishkek, Kyrgyzstan, BelTA has learned.

The press service of the Eurasian Economic Commission quoted Sergei Shukhno as saying: “The Commission is actively discussing the key tasks for the next four years along all the tracks. But it is already obvious that the Union expands the internal market and makes its regulation more effective. The reduction of transaction costs in external and mutual trade, the removal of labor migrants from the grey area, the liberalization of major services sectors and hence stronger competition — all these factors make the common market of the Eurasian Economic Union drive the growth of the economies of the member states.”

Sergei Shukhno went on saying that the investment appeal of the Eurasian Economic Union had increased. For instance, since Kyrgyzstan joined the Eurasian Economic Union, Belarus’ investments in the country have increased by 45 times while Russia’s investments have doubled, he noted.