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Kazakhstan offers to create joint ventures, digitalization in EAEU

President of Kazakhstan Kassym-Jomart Tokayev made a speech in connection with handing over the chairmanship of the Eurasian Economic Union (EAEU) to Kazakhstan. He noted that in the context of the coronavirus pandemic and the instability of the world economy, the Union should focus on long-term priorities: maintaining stability of the economic and social systems, improving the well-being of citizens and ensuring the progress of the EAEU and its member states.

Kazakhstan proposes to give a new impetus to industrial cooperation. For this it is necessary to create joint ventures in industry, the agro-industrial and the services sector. At the same time, it is proposed to use the potential of the Eurasian Development Bank to the full.

«Creation of joint ventures and strengthening ties between industries of the member states will also serve as an additional impetus to increase the volume of mutual trade and remove barriers in the markets of our states,» Kassym-Jomart Tokayev said.

The President of Kazakhstan drew attention to the elimination of the remaining barriers in mutual trade between the countries. He is sure that the Eurasian Economic Commission will have to remove existing and prevent the emergence of new trade barriers, ensure the maximum reduction of exemptions and restrictions on the free movement of goods, services, capital and labor.

«It is important to fully use the potential of cross-border transport corridors and logistics hubs. Effective cooperation in this area will play a decisive role in expanding trade and economic ties and establishing trust throughout the Eurasian continent. We propose to step up work on the development of mutually beneficial joint projects that ensure linkage of the Eurasian integration association with the One Belt, One Road initiative,» Kassym-Jomart Tokayev said.

He also suggested using the capabilities of Khorgos node on the border of Kazakhstan and China and the emerging International Center for Trade and Economic Cooperation Central Asia at the border of Kazakhstan and Uzbekistan in the interests of all EAEU member states.

Kassym-Jomart Tokayev also touched upon the digitalization topic, noting that it was important to qualitatively accelerate introduction of digital technologies in industry, agriculture, and transport. «As a matter of priority, use of modern IT solutions should be expanded in customs regulation, tax administration, veterinary supervision and other industries that directly influence the freedom of movement of goods and services,» the President of the Republic of Kazakhstan said.