President of Kazakhstan does not doubt efficiency of EEU

ArmInfo. On February 25, Tigran Sargsyan, Chairman of the Eurasian Economic Commission (EEC) Board, met in Astana with President of Kazakhstan Nursultan Nazarbayev.    

The EEC press office reports that the meeting covered issues related to the current development of the Eurasian Economic Union (EEU), deepening of economic relations with the third countries, as well as the general action plan of the EEU member states in the current situation on the global markets. President of Kazakhstan Nursultan Nazarbayev stressed that Tigran Sargsyan's presidency in the EEC Board has coincided with hard times in the global economy and it is difficult to find new growth points. "However, I do not doubt the efficiency of our integration association, especially as many countries seek to join the EEU and create a common free trade area with it. The crisis is a temporary phenomenon and the joint potential of our economies and market capacities remain the same," Nazarbayev said. He also pointed out that EEU membership implies not only the use of its opportunities but also the need for contributing to its development.

Tigran Sargsyan, in turn, said that Nazarbayev's position on the general strategy of EEU development is of much importance, because the initiatives and ideas and of the Kazakh President lay in the basis of the single Eurasian economic space. Sargsyan expressed confidence that during the term of Kazakhstan's chairmanship, a fresh impetus will be given to the integration processes. Tigran Sargsyan also spoke of the key priorities of the EEU Board's current activities. 

The Eurasian Economic Commission (EEC) is the permanent regulatory body of the Eurasian Economic Union (EAEU). It started work on February 2, 2012. The main purpose of the Eurasian Economic Commission is ensuring the functioning and development of the EAEU, and developing proposals for the further development of integration.  Currently there are five EEC countries: The Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic and the Russian Federation. The EEC has supranational regulatory body status and its activity is guided by the interests of the participating countries of the Eurasian Economic integration project in general, not motivating its decisions by any interests of national Governments. Decisions of the Commission are obligatory for execution on the territory of the EAEU Member States.