EAEU trade turnover declines due to sanctions against Russia — Kazakh leader
The other reason is decline of prices for raw materials, Kazakhstan's President Nursultan Nazarbayev said
The President of Kazakhstan Nursultan Nazarbayev said the sanctions against Russia and decline of prices for raw materials are among the reasons for decline of trade turnover between the Eurasian Economic Union (EAEU) countries, he said in an interview with Mir 24 TV channel.
"Firstly - the Western sanctions against Russia, and secondly - decline of exchange prices for our export goods: oil, gas, metals, fertilizers, etc. Thus, this is natural - a general decline. Although physical volume of trade turnover remain the same, without declining," Nazarbayev said.
According to him, commodity turnover between the countries could grow if the market conditions change.
"Therefore, when this situation passes, and we adapt, I think it will all work. There are many benefits from this association - there are no customs barriers, goods can move without any obstacles, joint ventures can be created in Russia, here, in Belarus, in other countries," the president of Kazakhstan said.