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Kyrgyzstan has successfully undergone difficult stage of adaptation to new conditions of EAEU, deputy PM

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by December 2, 2019 Legal

Kyrgyzstan has successfully undergone difficult stage of adaptation to the new conditions of the Eurasian Economic Union,” Deputy Prime Minister of the Kyrgyz Republic Zamirbek Askarov said at The Kyrgyz Republic in the Eurasian Economic Union: results, experience and prospects conference.

The deputy PM said the main indicator of this is that in the conditions of the union the economic growth was not lower than before joining the Union.

“In general, the EAEU is an accomplished project that has proved its worth under difficult conditions. The purpose of the EAEU is to ensure free access to markets, services and capital flows.

As far as the commodity market is concerned, it can be clearly stated that for this period it was possible to create a single market for goods that would allow for duty free import. We come to a consensus exclusively through dialogue. Over the past four years, the Kazakh side has been engaged in talks to remove veterinary control and in April this year recognized our equivalence, Askarov said.

The deputy prime minister noted today enterprises are being established, and their number has reached 80.

The positive thing is that the majority of large enterprises were able to solve the issue of adaptation, adapting the business to the new conditions,” he said.

In addition, Zamirbek Askarov touched upon the achievements in the area of pensions within the Eurasian Economic Union and the adoption of the roadmap for digital transformation.

Besides, summing up the results of five years of Kyrgyzstan’s membership in the EAEU, Askarov noted the Union’s cooperation with third countries, in particular with China within the framework of the One Belt One Road program, as well as the signing of the document on Free Trade Zone with Vietnam and Singapore.

The Eurasian Economic Union (EAEU) is an economic union of states located in central and northern Asia and Eastern Europe.

The Union has an integrated single market of 180 million people and a gross domestic product of over Int$5 trillion.

The EAEU encourages the free movement of goods, services and provides for common policies in the macroeconomic sphere, transport, industry and agriculture, energy, foreign trade and investment, customs, technical regulation, competition and antitrust regulation. Provisions for a single currency and greater integration are envisioned in future.

Source: Kyrgyz National News Agency

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