Business & Economy

Kazakh leader calls for Eurasian Economic Union to strengthen cooperation with Mercosur

Moscow, May 25 (EFE).- Kazakh President Kassym-Jomart Tokayev on Thursday called for the Eurasian Economic Union (EEU) to strengthen its relations with Mercosur in Latin America and other international and regional alliances focused on the Asian continent in terms of economic and trade cooperation.

“We should qualitatively strengthen our relations with the Shanghai Cooperation Organization (SCO), the Association of Southeast Asian Nations (ASEAN), Mercosur, and other international organizations,” he said during the EEU summit’s plenary session, consisting of Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan.

“I believe that the interest in cooperation on the part of these organizations is mutual,” Tokayev said.

He added that “one of the key objectives of the creation of the EEU was to obtain the most favorable trade conditions from third countries based on a strong and coordinated joint position.”

For the leader of Central Asia’s largest economy, “it is important to continue a systematic dialogue with integration associations, with whom cooperation is in our economic interest.”

To this end, the Eurasian Economic Commission (EEC), the executive arm of the EEU, must also “quickly” finish work on concluding free trade agreements with the United Arab Emirates, India, Egypt, Indonesia, and Israel, Tokayev said.

The Kazakh head of state also argued that the Eurasian Economic Union “has proved its necessity and effectiveness both in times of calm and in times of crisis.”

“It is important to steadily and systematically materialize its enormous potential for the benefit of our countries,” he said while positioning his country as the “center of Eurasian industrial cooperation.”

“In the current geopolitical situation, Kazakhstan, given its geography and capabilities, is ready to act as a center for the development of Eurasian industrial cooperation. These can be joint ventures for the production of electric vehicles, locomotives, railway carriages, agricultural and passenger vehicles, construction materials, and chemicals,” he told his counterparts.

He indicated that his country is also prepared to implement joint projects for the development of ferrous and non-ferrous metal deposits with further processing and production of finished products. EFE

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