ArmInfo. The Eurasian Economic Union has become one of the important links in the development of world trade, but integration should continue to be increased, including removing barriers in mutual trade. The President of Kazakhstan, Kassym-Jomart Tokayev, announced this on October 1 in Yerevan.
"We have to bring a fresh stream in the development of economic integration with strict observance of the letter and spirit of the Treaty on the EAEU. I am confident that today's meeting will be an important step in the further successful development of our integration association. The EAEU has become one of the important and prominent links in the development of world trade,"- the president of Kazakhstan said, adding that the chairmanship of Armenia in the integration union is successful.
At the same time, the head of Kazakhstan emphasized that the EAEU is open for interaction with the outside world, but the rapidly changing market conditions, growing competition between the powers, trade wars, and the growth of protectionism contribute to the instability of the world economy. In this regard, he pointed out the need to solve a number of existing problems in order to overcome these negative processes.
"Firstly, according to the UN, the unfolded trade war could lead to losses in the world economy from $ 850 billion to almost $ 1 trillion by the beginning of next year. A slowdown in production and a reduction in investment globally could amount to about 1% of the total GDP. This is a colossal figure. A slowdown in economic development in the world, especially among our main partners, the EU and China, can lead to undesirable consequences, including for us. This year we are already observing decline in turnover, "said the President of Kazakhstan, noting that this year the EAEU countries trade with third countries has decreased by 2%, and mutual trade between the countries of the integration Union fell by more than 5%, which is an unfavorable trend.
Tokayev also expressed concern about the decline in exports of Kazakhstani products, stating that exports fell by more than 6%, due to both objective economic reasons and barriers within the union.
He is convinced that in complex global processes it is extremely important to maintain the sustainable economic development of the EAEU member states, which is possible only with real and mutually beneficial cooperation, integration and cooperation.
Secondly, according to Tokaev, the EAEU countries need to continue to work towards removing barriers in the common domestic market, which has been repeatedly mentioned. "Most of our discussions in a narrow composition were devoted to this issue. We created a common regulatory framework for trade and this is success, but in reality the protection of our producers on the national market in some cases prevails over the goals and objectives of integration," said the President of Kazakhstan, adding that this is often accompanied by various events, including active media coverage of various bans, which discredits the organization and is unacceptable. According to the head of Kazakhstan, the EEC can strengthen monitoring tools for national legislations and develop an effective mechanism for informing and clarifying existing law within the EAEU. Thirdly, according to Tokayev, the EAEU court must fully fulfill its mission and realize its objectives, which today is not done, and the parties do not always take into account the decision of the Eurasian court. He proposed making proposals to strengthen the role of the EAEU court.
"Fourth, the EAEU is at the crossroads of integration markets, the potential in this direction is huge. Today the union serves as an important transport hub connecting East and West, and it should be used correctly. There is an increase in export-import volumes of goods in the direction China-Europe-China, launch of the Vietnam-China-Kazakhstan-Europe transcontinental railway route has been launched, which solves the logistical issues of supplying our products to ASEAN countries, which will become a good alternative to sea transportation, " - said the head of Kazakhstan, stating that, despite the availability of opportunities, there are still problems with the transportation of goods falling under counter-sanctions across the Union, which adversely affects the cooperation of the EAEU countries with each other and with third countries. At the same time, he added that the transit system of goods under development will ensure unhindered transit of goods across the territory of the EAEU, and accelerate customs procedures. In this context, he emphasized the need to accelerate the development by the EEC of a draft unified transport system of the Union. Fifth, Kassym-Jomart Tokaev suggested paying special attention to the development of advanced technologies, stressing that the digitalization of the economies of the EAEU countries should also be a priority. Tokayev stressed that Kazakhstan has already embarked on this process, since this is an irreversible need. "Sixth, today we will approve the main directions of the EAEU's international activities for next year. The prospect is to build relations with large international organizations - ASEAN, SCO and others," Tokayev said, adding that an agreement was signed today to create a free trade zone with Singapore. In this context, the head of Kazakhstan recalled that Singapore is the second country after Vietnam, with whom the EAEU has signed a similar agreement. He also pointed out the importance of developing trade and logistics cooperation with Iran. In conclusion, the President of Kazakhstan pointed out the importance of developing trade and economic ties with new, growing partners.