In First Quarter 2012 Mutual Trade within Customs Union Grew by 17.5%

In the first quarter of 2012 mutual trade between the Customs Union countries increased by 17.5%, said Trade Minister of the Eurasian Economic Commission Andrei Slepnev giving lobby interviews at the St. Petersburg International Economic Forum.

In the first quarter of 2012 mutual trade between the Customs Union countries increased by 17.5%, said Trade Minister of the Eurasian Economic Commission Andrei Slepnev giving lobby interviews at the St. Petersburg International Economic Forum.

According to him, trade turnover between the Customs Union countries and third countries rose by 18% in the first quarter of 2012: exports from the Customs Union countries increased by 20.9%, while imports – by 12.7%.

A.Slepnev emphasized the high growth rate of the turnover both with third countries and within the Customs Union. Meanwhile, in the first quarter world commerce grew only by 3%.

A.Slepnev noted that the largest increase in exports to third countries was registered in Belarus – 68.5%, including exports of petroleum products, solvents, thinners and lubricants which amounted to 85%.

He also mentioned “a very serious strengthening of the position of Belarus on the Customs Union markets”. According to him, in the first quarter of 2012 the volume of deliveries from Belarus to Russia increased by 20%, whereas to Kazakhstan – by 60%. “It is obvious that our Belarusian colleagues take full advantage of the integration association,” said the Minister.

He also noted that the exports from Russia to the Customs Union countries grew by 27%.