Expert: Kazakhstan annually loses $4 billion after accession into Customs Union

Kazakhstan, Astana, Sept. 16 /Trend D.Mukhtarov /

After joining the Customs Union Kazakhstan additionally loses $4 billion annually, the director of the Center for Macroeconomic Research Olzhas Khudaibergenov told Trend.

"Kazakhstan's export share in Russia is only three to four percent. And if we take in total, after Kazakhstan's entry into the Customs Union the republic looses an additional $4 billion on Russia only," Khudaibergenov said.

The expert reminded that earlier Kazakhstan also had the negative surplus of commodities turnover with the countries of the Customs Union.

"But when a question arises about the economic union, then it must be a priory beneficial for the country. But the loss of $4 billion - it is a quite a large sum for Kazakhstan. That is, as long as energy prices are high, the country can turn a blind eye to this amount, but if oil prices fall, this amount will be palpable for us, and integration issues may take a back seat," Khudaibergenov said.

According to the expert, during discussions of this issue with all three members of the Customs Union, Russia had to understand and raise the issue.

It was previously reported that, the dynamics of the mutual trade of member states of the Customs Union for the period of 2010-2012 shows a decline in growth rate and specific weight of Kazakhstan in the mutual trade with members of the Customs Union.

"In 2010 the growth rates in Kazakhstan amounted to 166.6 percent, whereas over 2012 this figure already was 96.3 percent," director of the department of the Kazakh National Economic Chamber Atameken, Nailya Abdimoldaeva said earlier.

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