Kazakhstan takes preventive measures due to confrontation between Russia,West
Astana, Kazakhstan, Nov.20
By Daniyar Mukhtarov - Trend:
Kazakhstan decided to take preventive measures in the light of the standoff between Russia and the West, said the President Nursultan Nazarbayev during the roundtable talk on the industrialization issues, the press service of the head of the state reported Nov.20.
The president drew attention to the complications the world market system faces now stressing that it is essential to coordinate approaches to the country's economic development. The president also said that Kazakhstan decided to take preventive measures in the light of the crisis situation due to confrontation between Russia and the countries of the West.
"We have completed the first industrialization stage, have built enterprises, have created new workplaces and accumulated experience," the president said. "I think we have reached some success. The second five-year plan will focus on innovations."
"My new missive envisions significant investment of public funds to sustain economic growth and employment," the president said. "This will also strengthen the country's financial system, contribute to further development of small and medium businesses."
He said that programs of action have been planned and financial resources allocated on all these areas. These steps also have the support of international financial institutions, and agreements on cooperation were reached with them.
"For Kazakhstan, with its relatively small population, a one-time infusion of more than $20 billion into the country's economy will give a significant effect," said Nazarbayev.
He drew attention to the change in the external economic environment, in which the home business will have to work.
"Kazakhstan has completed negotiations with the European Union on expanding partnership and cooperation," he said. "We are at the final stage of accession to the World Trade Organization. From next year Economic Union of Kazakhstan, Russia and Belarus takes effect."
"Our goal is exclusively pragmatic, as Russia is our main partner with whom we have about 7,500 kilometers of common borderline," Nazarbayev said. "Kazakhstan is located in the middle of the continent and has no outlet to the sea. Therefore, the Customs Union, within which trade barriers are eliminated and our cargo has unimpeded access to foreign markets, is important to us."
International experts also shared their views on the latest global economic developments, new trends in the politics of the developed and developing countries, evaluated results of the first stage of Kazakhstan's industrialization and future prospects. They also expressed confidence in Kazakhstan's competence to find out right ways to respond to the world economic challenges for Kazakhstan has necessary experience and human resources. In their view, the location of Kazakhstan between the capacious markets such as China and Russia, and it opens up ample opportunities for future development, taking into account the ongoing industrialization.
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