Customs Union open for new members

Ukrainian business keen to integrate into Customs Union

Ukrainian businesses are keen to see their country join the Customs Union (created by Russia, Belarus and Kazakhstan), notes the Chairman of the Board of Directors of the Customs Union Suppliers Association, Oleg Noginsky. He was speaking at a conference entitled Risks of Economic Disintegration and the Search for New Formats of Co-operation between Ukraine and the Eurasian Union, hosted by Kiev.

“We’d like politicians to listen to businesses, hearing their ideas. Integration into the Customs Union is rather interesting for businesses,” notes Mr. Noginsky. He has also called on the Ukrainian Government to consider joining the Customs Union not from a political point of view but from the economic point of view. According to Mr. Noginsky, on joining the Customs Union, Ukraine would receive the right to develop technical regulations and would gain greater to Russian financial resources — as seen in Belarus and Kazakhstan. “Ukraine’s membership of the Customs Union would also bring positive results within the Union; in raising its GDP 1.5-fold over the next decade, this would prove beneficial to the Customs Union,” underlines Mr. Noginsky.

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