Kazakhstan considers Eurasian Economic Union as competitive association of countries

Photo: Kazakhstan considers Eurasian Economic Union as competitive association of countries / Kazakhstan

Astana, Kazakhstan, May 23
By Daniyar Mukhtarov - Trend:

Along with about 200 regional integration organizations worldwide, Kazakhstan sees the Eurasian Economic Union as one of the competitive associations of the countries, Kazakh President Nursultan Nazarbayev said at the opening of a plenary session of the 7th Astana Economic Forum.

"The agreement on the Eurasian Economic Union will be signed in Astana on May 29," he said. "An important element of the agreement is the task of creating a common market of financial services."

"It is planned to create a supranational financial market regulation body in Almaty in 2025," the president.

"Such factors as a favorable investment climate, further development of Islamic finance, common borders of several Central Asian countries are a reliable basis for Almaty to become the financial center of the new Silk Road," he said.

"It is necessary to work out an effective international instrument to guarantee investments and fulfill its contractual obligations to minimize the political risks," he said.

"Besides the stable economic situation, broad measures on sharp strengthening of the economic activity of the population of the poorest countries are required. This must constitute the essence and content of the Roadmap for Poverty Eradication proposed by us. I believe, the main tools are investment in human capital, development of entrepreneurship and infrastructure," Nazarbayev said.

The president underscored that the country has gained great positive experience in this sphere.

The head of the state emphasized the start of the implementation of the Bolashak program, thanks to which some 10,000 young people, primarily those from low-income families have got and will get the state-funded best world-class education.

"We make significant investments in education, health care systems and the social infrastructure. The life length of Kazakhs has increased by 4.5 years over the last seven years."

"We managed to reduce the population's poverty level by almost 13 times in a phenomenally short period. We also succeeded in preventing the significant stratification of society in terms of income," Nazarbayev said.

Edited by C.N.

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