The EAEU membership has changed the nomenclature of Kazakhstan's exports

"Since the functioning of the EAEU, Kazakhstan has increased the share of exports to the markets of third countries of goods with a high and medium degree of processing. In general, in recent years, we have noted an active diversification of the product line of exports in favor of finished goods, " said Vice-Minister of Trade and Integration Janel Kushukova, speaking at a briefing in the CCS.

According to Kushukova, on the eve of the creation of the EAEU (2014), the export of processed products accounted for 23.2% of the total volume sold abroad. Last year, even with the overall drop in trade, Kazakhstan's non-primary exports exceeded 35%.

"This was largely facilitated by the opportunities provided by the Eurasian Economic Union. Access to the infrastructure of the EAEU partner countries and the provision of domestic tariffs for rail transport help us. This significantly reduces the final cost of exported products. Kazakhstan's remoteness from seaports and popular trade routes, unfortunately, negatively affects the cost of logistics. And this, as you know, is the most important barrier for our exports to many countries, " the Vice-minister explained.

She also noted that the signing of free trade agreements with third countries by the Eurasian Economic Union provides Kazakhstan entrepreneurs with a wide range of preferences, which contributes to the increase in exports.

In particular, the FTA with Vietnam, Serbia,Iran and Singapore allowed for an additional increase in the export of Kazakh goods worth more than $ 1 billion. Only the trade turnover between Kazakhstan and Vietnam increased by 54%. Moreover, we are talking about processed goods: products of the metallurgical, chemical, oil refining industries and food products, " she explained.

Currently, the Eurasian Economic Union is negotiating agreements with Israel, Egypt and India. According to the MIT, the potential for increasing Kazakhstan's exports under the FTA is estimated at about $ 800 million.

"Unfortunately, our country alone with 18 million people is not considered as a potentially attractive market for cooperation, and, accordingly, for possible preferences. But as part of a large market of 180 million people, we attract the interest of both trading partners and investors."

In 2020, investments from third countries in the EAEU amounted to $ 25.3 billion. The lion's share of which is accounted for by Kazakhstan - 17 billion US dollars.