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Kazakhstan seeks innovative joint ventures with Belarus

Business Materials 26 October 2011 10:34
Kazakhstan would like to set up innovative joint ventures with Belarus, Chairman of the Majilis of the Kazakh Parliament Ural Muhamedzhanov said as he met with Prime Minister of Belarus Mikhail Myasnikovich on 25 October, BelTA has learnt.
Kazakhstan seeks innovative joint ventures with Belarus

Kazakhstan would like to set up innovative joint ventures with Belarus, Chairman of the Majilis of the Kazakh Parliament Ural Muhamedzhanov said as he met with Prime Minister of Belarus Mikhail Myasnikovich on 25 October, BelTA has learnt.

Ural Muhamedzhanov said that he supports the integration views expressed by Belarus President Alexander Lukashenko in the Izvestia newspaper. According to Ural Muhamedzhanov, "the three countries need to flesh out joint projects and help each other to deal with foreign competition". This makes innovative joint ventures extremely relevant, he emphasized.

The Belarusian Premier also pointed to the importance of innovative cooperation. "We need to set up joint ventures to manufacture brand new products that will be in demand on the market of the single economic space (SES) and abroad," he said. This will boost the trade between the countries and strengthen humanitarian contacts. "Our law-makers will develop the progressive market legal framework for that", he added.

Mikahil Myasnnikovich suggested considering the accession of two potential members of the single economic space. "Some countries have already applied for membership in the SES, others are going to do that soon. I would like to know your opinion about that," he noted.

The Customs Union of Belarus, Russia and Kazakhstan that became operational on 1 January 2010 has eliminated tariff and non-tariff barriers in the mutual trade, unified and simplified foreign trade regulations, enhanced the protection of Belarusian, Kazakh and Russian products on the common market from the competition of third countries. The single economic space that will become functional on 1 January 2012 will secure the free movement of capital, services and labor. The countries will start harmonizing their macroeconomic policies using single competition principles and rules and regulating the operation of natural monopolies. The countries have also come up with single approaches to supporting the manufacturing industry and agriculture and placing state procurement orders.

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