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EEU countries approved main targets for 2017-2018

by April 14, 2017 Fun

President of Kazakhstan Nursultan Nazarbayev during a visit to Kyrgyz Republic took part in a meeting of the Supreme Eurasian Economic Council in a narrow circle and of an expanded format in Bishkek, Akorda press service reports.

ASTANA CITY14 April , 15:58

Presidents of Armenia – Serzh Sargsyan, Belarus – Aleksandr Lukashenko, Kyrgyzstan – Almazbek Atambayev, Russia – Vladimir Putin, and also Chairman of the EE Commision Collegium Tigran Sargsyan also took part in the work of the Council.

A report on the implementation of the main lines of international activity of the EurAsEC in 2015-2016 in a narrow format was heard.

Also during the meeting, the parties discussed topical issues of economic cooperation within the Union, as well as issues of international cooperation and further integration in the Eurasian space.

The Head of State at the enlarged meeting of the Council, in which President of Moldova I. Dodon also took part, dwelt on the main points of the implementation of the Treaty on the EEU signed 3 years ago in Astana.

“The contractual and legal framework has been established and regularly expanding, long-term and medium-term priorities of the Organization have been determined. In practice free movement of goods, services, capital and labor is carried out. We work together in the economic sphere, we carry out coordinated policy in the most important sectors of the economy. Contacts are being established with various countries and international organizations”, – the President of Kazakhstan said.

At the same time Nursultan Nazarbayev noted that during its formation, the EEU had to overcome the crisis manifestations in the global economy and the challenges of a difficult geopolitical situation.

“All this affected the performance of our Organization, which has declined markedly in recent years. However, the crisis is not eternal and the recession follows growth”, – the Head of State reported.

The President of Kazakhstan stressed that, despite the difficult conditions, most of the member countries of the Council last year showed an increase in economic indicators.

“Particular optimism is prompted by the statistics at the beginning of 2017. According to the results of the first months of this year, the volume of foreign trade of the EEU increased by 37%, and mutual trade by 38%”, – Nursultan Nazarbayev summed up.

Also, the Head of State, noting the need of consolidation of this positive trend, singled out priority steps in this direction.

“Firstly, it is important to remove all existing obstacles for the development of the EEU. Secondly, new trade and economic agreements should be established with international partners to expand sales markets and increase investment. Thirdly, in this difficult period for our economies it is necessary to provide mutual support. Fourthly, the Anti-Crisis Council can become a good tool for overcoming crisis phenomena”, – the President of Kazakhstan noted.

Nursultan Nazarbayev especially noted the proposals of Kazakhstan on the formation of the Council of Ministers of Economy and Finance, as well as the composition of the central banks’ heads of the EEU countries.

“His work will be aimed at implementing joint activities to ensure economic growth and financial stability. The Council will advise the authorities of the EEU on the financial and economic policies of the member states and the development of coordinated measures to prevent crisis phenomena. The work of this Council will be similar to that of the Council for Financial Stability under G-20 and ECOFIN in the European Commission”, – the Head of State said.

The parties also considered the issue of granting of observer status to this Council, for which there is a great interest from the third countries.

During the meeting in the enlarged composition the Main Guidelines of Macroeconomic Policy of the EEU states for 2017-2018 were approved. The document provides significant measures for improvement of the macroeconomic situation, stimulates corporate sector on increase of investments, promotes non-resource exports.

The meeting also adopted the document on a temporary agreement on the formation of a free trade zone between the EEU and its member states and Iran.

In addition, the heads of states considered the appeal of the Republic of Moldova about granting it the status of observer-state under the EEU.

In conclusion, the President of Kazakhstan wished the Kyrgyz side successful and fruitful work as Chairman of the EEU bodies.

Source: Kazakhstan 2050