Eurasian Economic Union members invest $1.15bn in Kyrgyzstan

By bne IntelliNews November 20, 2015

Member states of the Moscow-led Eurasian Economic Union (EEU) have invested $1.15bn in Kyrgyzstan, according to the country’s economy ministry.

Kyrgyzstan joined the EEU in August 2015. The bloc, established in January 2015, was formed from the Customs Union of Belarus, Kazakhstan and Russia, which in turn was set up in January 2010. Armenia joined the EEU at the beginning of 2015.

Mutual investment in the free-trade bloc has reached $23.98bn, of which $2.21bn was invested in Armenia, $7.93bn in Belarus, $9.33bn in Kazakhstan, $1.15bn in Kyrgyzstan and $3.36bn in Russia.

Kyrgyzstan marked 100 days of its membership of the union by the abolition of phytosanitary control on the border with Kazakhstan. At the same time, the country has so far failed to bring its veterinary control system in line with the EEU standards. “Kyrgyzstan still has many problems with Eurasian integration,” Danil Ibrayev, member of the Eurasian Economic Commission, was quoted as saying by 24.kg news agency. “There are problems with tariff and non-tariff regulation, taxation and migration.”

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