Creation of Eurasian Economic Union won’t cause devaluation

Photo: Creation of Eurasian Economic Union won’t cause devaluation
 / Economy news

Astana, Kazakhstan, June 2

By Daniyar Mukhtarov - Trend:

The creation of the Eurasian Economic Union (EAU) will not cause devaluation, but rather strengthen the national currencies of the member states, Kazakh Foreign Minister Erlan Idrisov said.

He made the remarks on June 2 at a briefing dedicated to the signing of the agreement on the EAU.

"I don't believe there are any grounds to think that the signing of this agreement will cause the devaluation of ruble, tenge or the Belarusian currency. On the contrary, I'm confident that the enhancement of our economic potential will make our currencies stronger and more stable," Idrisov said.

He underscored that currency doesn't live in an isolated world.

"Our currency lives in a world where other currencies and unstable markets exist," the minister said, adding that the countries' financial bodies will always work in close cooperation to overcome any difficulties.

Idrisov also assured that the EAU will not be a closed organization and it is ready to cooperate with the European Union.

"The Stanford analysts point out that our union will oppose the European Union. No, we want to create partnership with the EU in economic issues (trade and investments). And it is a very open and clear policy," Kazakh foreign minister stressed.

Edited by C.N.

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