Chairman of the Cabinet of Ministers of Kyrgyzstan Akylbek Japarov spoke at the panel session «Eurasian Economic Union: New Quality of Integration» at the St. Petersburg International Economic Forum.
He noted that the current difficult global economic situation has affected the economies of all member states of the Eurasian Economic Union. It is characterized by a negative investment trend, a reduction in exports and deformation of traditional trade and economic relations. The growing trade imbalance and inflationary pressures lead to the threat of macroeconomic destabilization.
At the same time, the head of the Cabinet stressed that negative changes require new approaches, development of new views on world economic development.
«In order to reduce the influence of the external factor on the economy of the member states of the Eurasian Economic Union and ensure stability, it is necessary to take joint measures. Use of the opportunities and competitive advantages of the national economies of our association should involve, first of all, stimulating innovative and high-tech production potential. It is necessary to implement real cooperation projects not only in industrial sectors with creation of joint ventures, but also to introduce tools and mechanisms to support and promote the export of goods produced in the countries of the integration association,» he said.
Akylbek Japarov noted the need to take effective measures to improve the investment climate, support and encourage entrepreneurs, remove barriers and obstacles in order to take full advantage of the Eurasian integration.
