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EEU

Nursultan Nazarbayev about EEU barriers and cooperation with foreign partners

"One of the key priorities is the development of international cooperation. We have quite a serious progress in this direction," President of Kazakhstan Nursultan Nazarbayev said at a meeting of the Supreme Eurasian Economic Council (SEEC) in St. Petersburg.

"In October, an agreement on free trade with Vietnam has entered into force, there is considered the issue on the beginning of negotiations on a free trade zone with Iran, India, Singapore and Egypt. There have been signed more than 25 memoranda of cooperation and interaction with various countries. We are actively negotiating on trade agreements with China, Israel. We are set to matching the economic belt of the Silk Road with our Union. There is a search for common ground with the European Union and the Shanghai Cooperation Organization," Nursultan Nazarbayev listed.

"Partners from South America show interest in cooperation with EEU. A logical step in the work on the development of international economic relations of EEU is a prepared statement on the development of trade policy, which outlines the key principles of cooperation with foreign partners. However, we must not forget that the work on trade agreements requires a systemacity, maximum pragmatism, calculation of interests of all members of our union," he added.

"Our economic union works in difficult conditions. Economic indicators of EEU continue declining. Our economic relations are affected by the unresolved domestic issues of the union. Remaining barriers in mutual trade, difficulties in the transit of goods, the obstacles on the part of local authorities and others are among them. We understand that the problems have always been and will exist. Probably, it will take time," Nursultan Nazarbayev concluded.