Kazakh Prime Minister Advocates to Enhance EAEU Trade, Economic Ties in Bishkek

Kazakh Prime Minister Alikhan Smailov called on the Eurasian Economic Union (EAEU) member states to develop trade and economic cooperation during an Oct. 26 meeting of the Eurasian Intergovernmental Council in Bishkek, reported the Prime Minister’s press service.

Smailov outlined that the EAEU has become a trustworthy regional integration association in over a decade.

“Today, the EAEU is a popular and effective format of cooperation with a population of nearly 190 million people, a labor market of over 93 million people, and a gross domestic product (GDP) of $2.7 trillion. Mutual trade between member states doubled from 2015 to 2022 and reached around $85 billion,” he said.

Smailov expressed confidence that the EAEU has untapped potential in developing trade and economic cooperation. Effective use and development of transit potential can facilitate the increase in trade figures. EAEU member states will adopt several new mechanisms for controlling the circulation of goods, including navigation seals.

“All cargo traffic across the territory of the member states will be traceable. We should introduce navigation seals gradually and smoothly for the businesses of our countries,” Smailov said, proposing the Eurasian Economic Commission (EEC) to consider the business perspective while implementing this work.

According to Smailov, new production, technology, and workplaces will be the primary measure of effective economic integration. He also addressed developing common markets for medicines and medical devices, which the EEC currently revises. EAEU member states should create conditions for producing high-tech drugs and medical products, not a single health policy.

“We need to stimulate the development of production capacities and create favorable conditions for technology transfer. I ask the commission to take this into account,” Smailov said.

Photo credit: Prime Minister’s press service.

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