Eurasian Economic Space

Kazakh PM emphasizes industrial cooperation as EAEU members met in Kyrgyzstan

With PMs of Russia, Belarus, Armenia, Kyrgyzstan and Kazakhstan Dmitry Medvedev, Sergey Rumas, Nikol Pashinyan, Mukhammetkalyi Abylgaziyev, Askar Mamin as well as Chairman Tigran Sarkisyan, EEC Panel, in attendance, the 9 August 2019 Eurasian Intergovernmental Council meeting in the Kyrgyz resort town Cholpon-Ata, saw the signing of 12 documents.
World12 August , 12:50

The Kazakh delegation led by Kazakh PM Askar Mamin started its visit meeting with Kyrgyz President Sooronbay Jeenbekov.

15 issues of the agenda including integration processes, trade and economic cooperation, market barrier removal came under discussion, with the parties highlighting the 25 years of the idea of Eurasian integration launched by First Kazakh President – Yelbasy Nursultan Nazarbayev and the 5 years since the signing of the Treaty on the Eurasian Economic Union.

On top of that, the heads of government exchanged views on regulation of alcohol, financial markets and allocation of import duties within the EAEU.

Conceptual issues of cross-border information interaction, development of industrial cooperation, the Union countries’ agro-industrial complex and collaboration of customs services of the Customs Union’s member States were tackled.

“Work is underway to implement the provisions of the Treaty on the EAEU on the issues of cooperation, elaborating draft strategic directions of the Eurasian Economic Integration’s development until 2025”, Kazakh PM Askar Mamin stated.

From what the Kazakh PM said, given the ongoing conditions in the global economy it is essential to place special attention to development of industrial cooperation in an effort to have a positive effect on economic expansion of the EAEU countries.

A collaborative program for developing the economics of simple things can be among effective instruments to develop entrepreneurship, ensure employment and economic expansion

“This sector could provide over 1.5% growth in gross domestic product”, Askar Mamin said.

He went on to offer the digital mapping of industrial enterprises across the Union members.

The meeting also touched on developing e-trade sites as this global trend could both boost mutual trade and exports to third-country markets. 

The Kazakh PM highlighted the Union’s high capacity to integrate into the international transport network. Along with measures for simplifying customs procedures in transit via the Union countries, the EAEU’s unified transit system is being designed to be efficient.

According to the head of the Kazakh government, it is necessary to develop cooperation in the financial market, protection of the rights and interests of financial services clients and investors, trade and investment cooperation.

Accordingly, it was offered to benefit from the Astana International Financial Center. In the confines of the Center the Hub of Financial Technologies providing the high-quality infrastructure to bring together all the regional participants of financial technologies market has been operating.

To upgrade cooperation in that sector a 2019-21 mutual events plan was concluded between the Eurasian Economic Commission and the AIFC as part of the EEC-AIFC cooperation memorandum.