16 Aug 2010 15:31

Customs union states must make investors comfortable

SOCHI. Aug 16 (Interfax) - Russia, Belarus and Kazakhstan should work together on comfortable conditions for investors within the tripartite customs union, President Dmitry Medvedev said at a Monday conference on the investment climate.

It is the question of domestic and foreign investors, he said. "The customs union is bound to enhance stability of national economies amid the intensifying global and regional competition."

"On one hand, the interest of foreign partners in the customs union is rather large. After all, this is a promising and dynamically growing market with a large number of consumers and a population of 175 million people," he said.

However, there are still a lot of problems to resolve, he said. "All the investors admit that. Costs of crossing the customs borders are sometimes unpredictable, which leads to the refusal from starting up new productions in Russia," he said.

"These problems apply to domestic producers, including exporters of high-tech products. Financial costs and delivery periods put us in a very difficult situation," he said.