AIFC, EEC sign Joint Action Plan

NUR-SULTAN. KAZINFORM The use of the AIFC opportunities to expand and develop cooperation between the EAEU members was discussed today, within the framework of the meeting of the Eurasian Intergovernmental Council with the participation of the Prime Ministers of the Eurasian Economic Union (EAEU), AIFC press service informs.

Governorof the Astana International Financial Center (AIFC) Kairat Kelimbetov and theMember of the Board (Minister) for Economics and Financial Policy of theEurasian Economic Commission (EEC) Timur Zhaksylykov signed a plan of jointactivities between the AIFC and the EEC for 2019-2021.

ThePlan provides for cooperation measures to regulate financial markets, protectthe rights and interests of consumers of financial services and investors, anddevelop financial technologies.

Aspart of the interaction on the development of financial markets, measures areplanned to create regulatory «sandboxes» in the EAEU for testing andfine-tuning innovative financial products and services.

Thesuccessful implementation of the Action Plan is expected to enable the AIFC to deepencooperation with the Eurasian Economic Commission and the EAEU member countriesand to gradually establish the Center as a financial hub of Eurasia.

AIFC. The Astana International Financial Center (AIFC) was created on theinitiative of the First President of the Republic of Kazakhstan, NursultanNazarbayev. The constitutional law on the establishment of the AIFC was signedon December 7, 2015. AIFC's goal is to form a leading centre of financialservices at the international level. The AIFC aims to assist in attractinginvestment in the country's economy, create an attractive environment forinvesting in financial services, develop the securities market of the Republicof Kazakhstan and ensure its integration with international capital markets.

EEC. The permanent supranational regulatory body of theEurasian Economic Union (EAEU) (formerly the Customs Union (CU) and the CommonEconomic Space (CES)). It was created by the decision of the Presidents of theRussian Federation, the Republic of Belarus and the Republic of Kazakhstan andoperates on the basis of the Agreements of November 18, 2011 «On the EurasianEconomic Commission» and «On the Regulations of the Eurasian EconomicCommission». launch date in February 2, 2012, it has the status of asupranational governing body subordinate to the Supreme Eurasian EconomicCouncil (SEEC).