Kazakhstan's trade turnover with EAEU countries increased

Finance Materials 26 August 2022 15:39
Baku, Azerbaijan Trend News Agency Nargiz Sadikhova
Kazakhstan's trade turnover with EAEU countries increased

Trade turnover of Kazakhstan with Eurasian Economic Union (EAEU) countries has increased by 4.8 percent amounting to $12.6 billion, Prime Minister of Kazakhstan Alikhan Smailov said during the meeting of an expanded Eurasian Intergovernmental Council, Trend reports.

Smailov noted that as a result of the measures taken by the governments of EAEU countries, the recovery of main economic indicators is seen and economic risks are partially smoothed out.

"In particular, measures to stabilize and ensure economic growth made it possible to increase the medium-term forecasts of growth of the economy of EAEU countries. During the first half of the year, an increase in mutual trade is observed. Trade turnover of Kazakhstan with EAEU countries increased by 4.8 percent and amounted to $12.6 billion," he said.

Furthermore, Prime Minister stressed that for further development it's necessary to focus on solving a number of key issues.

According to Smailov building, a barrier-free environment is the basis of relations between EAUE countries, which was directly written in the agreement of its establishment. The leading role in this should be played by the commission, which is provided with all the necessary powers.

"In the current conditions it's important to determine the mechanism for leveling the consequences of restrictions that countries are forced to impose unilaterally," he stated.