Customs Union of Russia, Kazakhstan and Belarus is called to face the challenges of Globalization. From now on the member countries will have the opportunity to enter the global division of labor on a new basis, securing the accumulated potential and realizing competitive privileges, said the chairman of the board of Eurasian Development Bank (EDB) Igor Finogenov during his speech to St Petersburg International Economic Forum.

Finogenov marked that in 2000s economies of CIS countries somewhat alienated, whereas economies of Russia, Belarus and Kazakhstan grew more integrated.

“This is the evidence of formation of an “integration circle” on post-Soviet territory. Further deepening of economic integration in post-Soviet space will be realized on the exact basis of Russia-Belarus-Kazakhstan “integration circle”,” marked Finogenov.