Kazakhstan backs EEC’s ‘four freedoms’ development initiative

90% of the 'Eurasian Five' exports falls on intermediate goods. Another priority task is to deepen the industrial cooperation. President of Kazakhstan Kassym-Jomart Tokayev said it at the jubilee summit of the Supreme Eurasian Economic Council in Moscow on May 8, Kazinform News Agency learned from the Akorda press service.

The Kazakh President noted the need to enhance the technological integration in real sector of economy.

“As is known, the industrial cooperation projects will receive financial assistance from the Eurasian Economic Union budget beginning from 2024. It is also important to provide support to high-technological enterprises specializing in manufacture of high-valude added products. ” he said.

“Of course, creation of transparent mechanism of ensuring equal access to financing remains an important task. Kazakhstan will continue its consistent policy aimed at the development of industrial cooperation in the Eurasian space,” the Kazakh President noted.

Kassym-Jomart Tokayev pointed out huge prospects for the cooperation in petrochemical sector, called to become a new growth point.

“Together with Russian partners, we are building high-tech plants for the production of polypropylene, polyethylene and butadiene,” said the Kazakh President adding that the final product’s cost will exceed the raw material cost by 20 times.

In his words, food security strengthening remains another important area of cooperation.

“Everyone knows that the Eurasian region has one of the highest production, resource and export potential in the world. Amid of population growth and limited resources in other macro-regions, we have the chance to supply food to about 600 million people. At the same time, the role of the EAEU in ensuring global food security will only strengthen. Our strategic vision is to transform the agro-industrial complex into a high-tech industry. To achieve this, it is extremely important to take coordinated measures to introduce breakthrough innovative technologies based on artificial intelligence, robotics, biotechnology and agro-science,” he noted.

According to President Tokayev, digital transformation turns into a determining factor of economic progress and technological sovereignty both of certain countries and entire regions.

"Cooperation in digitalization sector should become a driving force of sustainable development of the integration association. For this reason, Kazakhstan backs the EEC’s initiative on development of the EAEU’s “four freedoms” amidst widespread digitalization. In turn, we create one of the most rapidly growing digital economies in our part of the world, giving special attention to artificial intelligence,” he stressed.

At the end of his speech, the President of Kazakhstan emphasized that in 10 years of the EAEU functioning, the member states have achieved impressive results in all areas. But given the enormous potential of unification, much more needs to be done. According to him, Kazakhstan will support economic integration based on the principles of equality and mutually beneficial partnership.

Taking this opportunity, Kassym-Jomart Tokayev congratulated everyone on the Great Victory Day!

A number of documents was adopted following the meeting.