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Kazakhstan also admits other economic partners as part of EAU establishment - experts

Business Materials 16 December 2014 19:15 (UTC +04:00)
The establishment of the Eurasian Economic Union (EAU) does not mean that Kazakhstan does not admit other economic partners.
Kazakhstan also admits other economic partners as part of EAU establishment - experts

Astana, Kazakhstan, Dec. 16

By Daniyar Mukhtarov - Trend:

The establishment of the Eurasian Economic Union (EAU) does not mean that Kazakhstan does not admit other economic partners, Kazakh political analyst, head of the information-publishing project "Who is Who in Kazakhstan" Daniyar Ashimbayev told Trend Dec. 16.

"Figuratively speaking, Kazakhstan does not 'put all eggs in one basket'," he said. "That is, irrespective of the relations with Russia as part of the EAU, Astana is working hard on interaction with European, US, Chinese and Central Asian markets."

It was previously reported that several important agreements relating to the implementation of large and important projects in the power engineering, oil and gas sector and transport were signed following a meeting of the Kazakh-Chinese Business Council in Astana last Sunday.

The new opportunities also appear for other markets as part of the EAU. It is obvious for China. It figured out the further potential of the Kazakh-Chinese cooperation development long ago.

"It is beneficial for us to preserve and maintain all relations in the current economic situation, when the world markets are not stable, but investment conditions improve in Kazakhstan," he said. "The EAU establishment does not mean that Kazakhstan does not admit other partners. The country intends to cooperate with all."

Another Kazakh political analyst, Director of the Risk Assessment Group Dosym Satpayev also believes that the creation of the Eurasian Economic Union doesn't mean that the country should abandon its multi-vector foreign policy in terms of economic cooperation with the US, EU and China.

"If you remember, before the meeting of the heads of member states of Shanghai Cooperation Organization (SCO), Kazakhstan agreed with the EU to establish a closer political, economic and cultural cooperation," Satpayev told Trend on Dec.16.

"That's to say, EU remains the main partner despite the war of sanctions against Russia," the expert added.

He reminded that the trade turnover of Kazakhstan with China is about the same with Russia - around $26 billion. This is while the trade turnover with EU exceeded $56 billion as of 2013, Satpayev added.

He said some Russian experts made time to state that Kazakhstan has abandoned its multi-vector policy in favor of the Eurasian Economic Union.

"Those who think so are deeply mistaken, since it means the infringement of our economic sovereignty," Satpayev said.

The developments that have taken place in recent months, active cooperation with other countries, the meeting of Kazakh Foreign Minister Erlan Idrissov with the high-ranking US and European officials clearly show that Kazakhstan tries to comply with the balance of political and economic interests, according to the expert.

Edited by CN

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