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Kyrgyzstan Prepares To Join Customs Union

by Lorys Charalambous, Tax-News.com, Cyprus

22 August 2014


Kyrgyzstan is drafting amendments to its tax code, as part of the country's preparations for joining the Russian-led Customs Union (CU) and the Eurasian Economic Union (EEU) from next year.

The move follows a meeting between the President of Kyrgyzstan, Almazbek Atambayev, and Russia's President Vladimir Putin in Sochi last week. Putin said that Russia had "big investment plans," particularly regarding the energy sector, while Atambayev described Russia as a "strategic partner."

Atambayev vowed to "put every effort" into the plans, and told Putin that he thought all would be well "with God's help."

In June, the Kyrgyz Prime Minister, Djoomart Otorbaev, told ITAR-Tass that the country is "creating an open economy," and that it was necessary to remove barriers with foreign economic partners.

Putin recently signed a treaty with the Presidents of Kazakhstan and Belarus in Astana to facilitate the creation of the EEU from January 2015.

TAGS: tax | Kyrgyzstan | export duty | agreements | tax reform

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