Kazakhstan, Astana, September 6 / Trend D.Mukhtarov /
Kazakh president Nursultan Nazarbayev made a speech at the session of the G20 Summit in St. Petersburg. The Kazakh president expressed his gratitude for the invitation and noted that one of the reasons for the global crisis is the dramatic development of financial structures not related to the economy's real sector and representing 'bubbles', the Acorda press service reported.
The head of state stressed that the positions of the majority of developing countries are not practically taken into consideration in adopting important world decisions.
"Two years ago I initiated a G-GLOBAL project in order that the voices of such countries which also include Kazakhstan would be heard. This is not an alternative to G8 and G20, but a supplementary instrument of global dialogue which is already implemented as an information and communication platform," the Kazakh president noted.
In addition to G-GLOBAL, a world anti-crisis conference was held in Astana at Kazakhstan's initiative and with the support of the UN General Assembly which was attended by the heads of economic agencies from 104 countries. Focusing on these innovative global dialogue formats, Nursultan Nazarbayev also presented his vision of resolving the main problems. This is so that, world currency and financial architecture should reach compliance with all countries' interests through an evolutionary way.
Next proposal of the president is to balance long term relations in world economy.
"It is proposed to work out and introduce new elements to regulate and control the volume of state and corporate borrowing," Kazakh president said.
Nursultan Nazarbayev noted that regional integration plays an important role in fighting against crisis and cited the example of Customs Union founded by Kazakhstan, Russia and Belarus.
"Kazakhstan is also at the final stage of joining the World Trade Organisation. In this regard, I ask the heads of states and governments present here to support Kazakhstan's accession to the WTO by the end of 2013," the head of the state said.
In addition the Kazakh president referred to the country's support to the G20 initiative about the 'Green climate Fond' and noted that the evidence of the country's green modernisation was choosing Astana as a venue for the EXPO-2017 International exhibition on the topic 'Energy of the future'.
At the end Nursultan Nazarbayev expressed this confidence that the proposals will be taken into consideration and will stimulate the activity in the aforementioned spheres.