14 April 2017
Participation in the meeting of the Supreme Eurasian Economic Council
Kyrgyz Republic, Bishkek

Nursultan Nazarbayev during the visit to the Kyrgyz Republic has taken part in the meeting of the Supreme Eurasian Economic Council in a narrow circle and in an expanded format.

The Presidents also participated in the work of the Council: Serzh Sargsyan - Armenia, Alexander Lukashenko - Belarus, Almazbek Atambayev - Kyrgyzstan, Vladimir Putin - Russia, as well as Tigran Sargsyan, the Chairman of the EEC Board.

The Report on implementation of the guidelines of the EEC international activity during 2015-2016 was listened to in a narrow format.

During the meeting, the parties have also discussed topical issues of economic cooperation within the EEC framework, as well as the matters of international cooperation and further integration in the Eurasian area.

At the Council’s enlarged meeting the head of our nation, in which the Moldovan President Igor  Dodon also took part, dwelt on the main points of actualizing the EEC Treaty endorsed three years ago in Astana.

- International treaty framework has been established and regularly expanded, and the organization’s long-term and medium-term priorities have been defined. Free movement of goods, services, capital and labor is practically carried out. We jointly work in the economic sphere and the concerted policy is underway in the most important sectors of the economy. Contacts are taking shape with various countries and international organizations, the President of Kazakhstan said.

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

- All that has affected our Organization’s functioning, which has significantly decreased in recent years. However, the crisis is not eternal and the growth follows recession, the Head of State said.

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

- Particular optimism is prompted by statistics at the beginning of 2017. According to the results of this year’s first months, the volume of the EEC foreign trade has grown by 37%, and mutual trade by 38%, Nursultan Nazarbayev concluded.

The Head of the State, noting the need to consolidate that positive trend, has also singled out priority steps in that direction.

- Firstly, it is of importance to remove all existing obstacles for the EEC development. Secondly, new trade and economic agreements should be signed with international partners to expand sales markets and increase investment. Thirdly, at that difficult period for our economies it is necessary to provide mutual support. Fourthly, the Anti-Crisis Council can become a big boost for overcoming crisis phenomena, the President of Kazakhstan noted.

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

- The Council will provide recommendations to the EEC authorities on member states’ financial and economic policies and the development of concerted measures to prevent crises. Its work will be aimed at implementing joint activities to ensure economic growth and financial stability. This Council’s work will be similar to the activity of the Council for Financial Stability under G-20 and ECOFIN at the European Commission, the Head of State said.

The parties have also given consideration to the issue of granting observer status to the EEC, for which there is great interest on the side of third countries.

During the meeting in the enlarged composition the Main Guidelines of the EEC states’ Macroeconomic Policy for 2017-2018 were approved. The document provides for significant measures on improving the macroeconomic situation, stimulating the corporate sector to increase investment, and promoting non-primary exports.

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

In addition, the leaders considered the appeal of the Republic of Moldova to grant it the status of an observer state under the Eurasian Economic Union.

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

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