Kazakh economy benefits from CU establishment: T.Suleimenov

13:13, 25 February 2011

ASTANA. February 25. KAZINFORM /Kanat Kulshmanov/ "The economy of Kazakhstan gets only benefit from the establishment of the Customs Union," Director of the Diplomacy institute of the Academy of Public Administration under the First Kazakh President Tuelutai Suleimenov believes.

"I believe, the Kazakh economy gets benefits from the CU establishment such as attraction of investments, establishment of joint enterprises, as long as we have the world lowest VAT rate," T.Suleimenov said at the international scientific-practical conference on the issues of formation of the CU and the Single Economic Space held in Astana on Friday.

He noted that import quotas for the equipment produced abroad would be reserved. Realization of infrastructure projects would be exempted from VAT by 2014.

"Establishment of the Customs Union provided great opportunities for the business of the three states due to abolition of customs frontier control, extension of the market, mutually beneficial quotas and preferences as well as effective use and further development of the transit potential," T.Suleimenov said.

Customs Union Industry Diplomacy News Integration Other Governmental Authorities Economy