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No option for Kyrgyzstan but to join Customs Union — Kyrgyzstan president

October 27, 2014, 12:57 UTC+3 BISHKEK

This move can lead to rise in inflation and prices but otherwise the country will face the biggest social and economic problems, says Almazbek Atambayev

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Kyrgyz President Almazbek Atambayev

Kyrgyz President Almazbek Atambayev

© ITAR-TASS/ Valery Sharifulin

BISHKEK, October 27. /TASS/. Kyrgyzstan has no option but to join the Customs Union of Russia, Belarus and Kazakhstan, Kyrgyz President Almazbek Atambayev said on Monday.

Kyrgyzstan’s accession to the Customs Union can lead to the rise in inflation and prices, he said.

But otherwise the country will face the biggest social and economic problems, Atambayev said during a session of the National Council for Sustainable Development.

“If we give up the accession to the organization (the Customs Union), we can face increased risks. No offence but we’re choosing the lesser of two evils. We have no other option,” he said.

He believes that the republic should join the Customs Union just now in order to have equal conditions and rights with other participants in the Union and get certain preferences, loans and grants.

Atambayev called the conditions for Kyrgyzstan’s admission to the Customs Union as “good”, including the creation of a development fund at the size of $1 billion. “To preserve stability in the country is most important for us now,” he said.

The Kyrgyz authorities made a decision to join the Customs Union in 2011. In May 2012 all parties concerned approved a program of the republic’s joining. Under the “roadmap”, Kyrgyzstan should become a full-fledged member and join the common economic space till January 1, 2015. At present, the Kyrgyz parliament is discussing draft laws on integration processes.

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