ID :
351805
Thu, 12/18/2014 - 15:19
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Customs Union members will have gains upon overcoming crisis due to integration - Putin

MOSCOW, December 18. /TASS/. Russia and its fellow countries of the Customs Union will have benefits from the current crisis, including due to their integration, Russian President Vladimir Putin said at an annual press conference on Thursday. Kazakhstan, which is also an oil producing country, like Russia is facing an unfavorable foreign economic environment amid the falling oil prices on the global market, Putin said, asking: “Are we able to overcome this situation?” “We will inevitably overcome this situation and have gains and a positive result. This is due to the global economic growth and demands for energy resources which we have,” Putin said, stressing that economies will adapt to low prices on energy resources. The president reminded that Kazakhstan President Nursultan Nazarbayev first proposed establishing the Eurasian Economic Union as it is easier to overcome problems together. The bloc, which will go into effect in January 2015, already includes Belarus, Kazakhstan and Russia, with Armenia and Kyrgyzstan on the path to joining it. Since the Customs Union came into existence on January 1, 2010, the trade between Russia, Kazakhstan and Belarus has grown by 50 percent. “This is a rather serious and objective figure, and we will rely first of all on advantages linked to integration,” the president said. Read more

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