Small business association concerned about uncertainty over Customs Union
The Perspektyva small business association has written to the Presidential Administration, expressing concerns over the recent launch of the Customs Union of Belarus, Kazakhstan and Russia, leader Anatol Shumchanka told
Although the Customs Union's Code has already taken effect, it has failed so far to turn into a full-fledged economic union because of bitter differences between Belarus and Russia over the latter's export duty on crude oil and petroleum products, Mr. Shumchanka said.
"Many entrepreneurs are ready to start firms to develop trade with Russia but balk at uncertainty over the operation of the Customs Union," he stressed. Mr. Shumchanka warned that if the Customs Union's "potential is not used," the Belarusians' purchasing power could fall, leading to a plunge in businesses' profits.