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      Russia: Customs Union boosts economy for all00:52

      Russia: Customs Union boosts economy for all

      Russian Federation, Moscow
      December 24, 2013 at 16:36 GMT +00:00 · Published

      Russia: Customs Union boosts economy for all

      Russian president Vladimir Putin stressed the benefits of closer economic cooperation for Eurasian states during a speech at the Supreme Eurasian Economic Council in Moscow on Tuesday.

      "Colleagues, Eurasian economic integration creates conditions for the dynamic development of our countries," said the President. "Despite the adverse global economic situation, the common market of the three member-states is expanding."

      "In 2010-2012 trade between the Customs Union countries grew almost threefold to reach $67.8 billion. The share of raw materials in export-import operations is going down, and this was noted today in our discussions with both Mr Nazarbaev and Mr Lukashenko. I would like to stress that this is a very important part of our joint work. We are reducing mutual trade in raw materials and increasing trade in high-tech goods."

      The participants also approved the roadmap for the accession of Armenia to the Customs Union and the Common Economic Space.

      Russia: Customs Union boosts economy for all00:52
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      Russia: Customs Union boosts economy for all

      Russian president Vladimir Putin stressed the benefits of closer economic cooperation for Eurasian states during a speech at the Supreme Eurasian Economic Council in Moscow on Tuesday.

      "Colleagues, Eurasian economic integration creates conditions for the dynamic development of our countries," said the President. "Despite the adverse global economic situation, the common market of the three member-states is expanding."

      "In 2010-2012 trade between the Customs Union countries grew almost threefold to reach $67.8 billion. The share of raw materials in export-import operations is going down, and this was noted today in our discussions with both Mr Nazarbaev and Mr Lukashenko. I would like to stress that this is a very important part of our joint work. We are reducing mutual trade in raw materials and increasing trade in high-tech goods."

      The participants also approved the roadmap for the accession of Armenia to the Customs Union and the Common Economic Space.

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