Kazakh president outlines main missions of Eurasian Economic Union

Photo: Kazakh president outlines main missions of Eurasian Economic Union
 / Kazakhstan

Astana, Kazakhstan, April 29

By Daniar Mukhtarov - Trend:

Kazakh President Nursultan Nazarbayev outlined two main missions for the Eurasian Economic Union (EAU).

Delivering a lecture at the Lomonosov Moscow State University, Nazarbayev said the EAU's main mission in the first half of the 21st century lies in two important aspects, including - becoming a key economic macro-region in the world.

He said according to the experts' estimates the world center of 'economic gravity' will shift this century to the East, to Asia, as well as the territory of the future EAU.

Nazarbayev pointed out that Kazakhstan is located among the European Union and the Asia-Pacific region - the two largest productive areas of the world.

"It gives our country a natural competition advantage as a geo-economic bridge between East and West, Europe and Asia. At the same time we cannot simply be intermediaries in transferring goods and technologies from one area to another," Nazarbayev said, adding that, "EAU should be straight away formed as a new global innovations and gravity center for transnational business."

Kazakh president went on to say that the second constituting component of the Eurasian integration mission is to provide the development of each member country.

"EAU should not be a burden, but a benefit for all peoples and national economies. There should be a clear system of indicators measuring the Eurasian integration's impact on growth of living standards, productivity and competitiveness of the economy. Only by adhering to this approach, it will be possible to ensure the attractiveness of the 'Eurasian choice'," Nazarbayev said.

Reportedly it was expected that in late May, 2014 the heads of the three states - Kazakhstan, Belarus and Russia will sign the agreement on the Eurasian Economic Union.

Translated by E.A.

Edited by C.N.

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