MINSK, 21 August (BelTA) – Mutual investments are now on the rise in the Eurasian Economic Union (EAEU) after a three-year decline, the press service of the Eurasian Development Bank (EDB) told BelTA.
The fact is mentioned by this year's report the EDB's integration studies center has prepared to survey mutual investments in the CIS states. According to the source, the latest data indicates that despite the decrease in the economies of the EAEU member states in 2016, mutual investments of the EAEU member states are now on the rise. After three years of decline (2013-2015) the mutual investments increased by 15.9% to $26.8 billion.
The largest capital exporters in the EAEU are Russian companies, which account for over 78% of the exported FDI. Kazakhstan came second (13.5%) while Belarus came third (7.8%). Armenia and Kyrgyzstan are way behind the largest economies in the Eurasian Economic Union.
Apart from channeling its investments into other EAEU member states Russia has started receiving more and more investments from neighbors. The accumulated volume of direct investments from other EAEU states has reached $5 billion. The main FDI recipients still include Belarus ($8.6 billion in late 2016) and Kazakhstan ($8.2 billion in late 2016). Large companies are the main investors, with medium-sized companies unwilling to invest abroad for now.
Fuel industry accounts for over half of Russia's FDI in the Eurasian Economic Union. Investments in non-ferrous metals industry, communications, information technologies, and finance are noticeable. As far as the FDI Russia receives are concerned, the top three recipients are the chemical industry, agribusiness, and transport.More about Economy