Kazakhstan ambassador to Armenia: economic potential of customs union reaches $2 trln

YEREVAN, January 29. /ARKA/. Economic potential of the Customs Union reaches 2 trillion dollars, ambassador of Kazakhstan to Armenia Aimdos Bozzhigitov said Saturday.

Over 9 months of 2012, trade turnover in the countries of the Customs Union grew by 40 billion dollars

“Today the Customs Union is a huge market with population of 170 million and economy potential of 2 trillion dollars”, Bozzhigitov said at a conference on Armenia’s Eurasian integration and its prospects held by “Integration and Development” analytical NGO in Yerevan.

Bozzhigitov pointed out that “there has been experience of counteraction and global integration structures are created not for the first time”.

“Globalization unites people into one information and communication space, with no boundaries, with free flow of goods, capital and human resources. In the same time, globalization brings vulnerability and fragility into the modern world: terrorism, drug trafficking and extremism have no boundaries either and are global challenges for the humanity. Uneven social and economic development of the world is intensified resulting in tougher international competition”, the ambassador said.

Yet, globalization carries huge opportunities if a correct development path is picked up to ensure competitiveness, according to Bozzhigitov.

Bozzhigitov also reminded that Kazakhstan president Nursultan Nazarbaev was the first to voice the idea of Eurasian integration in 1994. -0-