CU proves its effectiveness in numbers - economists

Trade turnover between businessmen and their Russian colleagues grew 1.5 times, this has been said by the head of the Department of economy and budget planning of North Kazakhstan region Mikhail Labushev. Major trade and economic partners of North Kazakhstan entrepreneurs are their Russian counterparts. "North Kazakhstan has achieved positive results. Since the beginning of the current year, trade with Russia has reached USD 139 million. For the period from 2009 to 2013 trade area with the Customs Union states expanded 1.5 times and trade turnover reached USD 800 million", said Mikhail Labushev. Wheat and flour are the main products exported to Russia. Only last year, the export of wheat increased by 1.3 times and amounted to USD 41 million. North Kazakhstan flour exported to the neighboring country was worth USD 3 million. "In addition to increasing exports and imports, we buy from Russia petroleum equipment and machinery. It is worth noting, that in 2009 export of wheat was about 1% of total exports, at present the figure is 4 %", added M.Labushev. According to statistics, the share of turnover of the North Kazakhstan region with Russia has reached more than 70 % of the region's total foreign trade turnover. This greatly contributes to strengthening of integration association which has being established on the continent.