New phase of integration between Europe and Asia begins - Former Israeli Prime Minister

ASTANA. KAZINFORM - A new phase of integration between Europe and Asia begins, Former Prime Minister of Israel Ehud Barak told at the 8th Astana Economic Forum.

"We are entering a new phase of integration between Europe and Asia. Currently, we trade goods, machineries and technologies. It is done thanks to low-cost labour," E. Barak noted.

According to him, it is cheaper for Asian companies to invest in European companies than in the USA. Therefore, Asian companies have a great interest in investing in Europe.

He also noted that Kazakhstan was situated in the middle, right between Europe and Asia and it is highly important for the economy of Kazakhstan to revive the Silk Road. However, the instruments for promotion of this project have not been created yet.