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Eurasian Economic Union Going Through A Great Test: Nazarbayev

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  • Eurasian Economic Union Going Through A Great Test: Nazarbayev

    EURASIAN ECONOMIC UNION GOING THROUGH A GREAT TEST: NAZARBAYEV

    15:25, 20 Mar 2015
    Siranush Ghazanchyan

    Russian President Vladimir Putin said on Friday he was sure that
    Russia and Kazakhstan working together would manage to overcome
    current economic difficulties, TASS reports.

    "The situation in the global economy is not easy indeed," Putin said
    at a meeting with his Kazakh counterpart, Nursultan Nazarbayev.

    "But I am convinced that framework conditions for functioning of the
    economy and social sphere, created also through your direct involvement
    in Kazakhstan and the whole post-Soviet space, will certainly help
    us to overcome these difficulties," he said, adding that: "If we
    work together - the way we have worked in previous years - it will
    be easier for us to cope with the situation we face today."

    The Kazakh leader said the post-Soviet Eurasian Economic Union was
    living through a difficult period in the wake of a fall in hydrocarbon
    prices.

    "Unfortunately, our union is now going through a great test as export
    prices fell in both Russia and Kazakhstan," Nazarbayev said.

    "We knew that there would be such risks, and there was a price
    distortion, and fluctuations. Thank you that after our conversation the
    measures were taken and all this stabilized," the Kazakh leader said.

    The Eurasian Economic Union brings together Russia, Belarus, Kazakhstan
    and Armenia. This year Kyrgyzstan is expected to join the bloc.

    Nazarbayev also stressed that the governments of the Eurasian Economic
    Union member-countries need to agree on overcoming the crisis jointly.

    "Our task now is to agree, and our governments should discuss these
    issues in a businesslike atmosphere. The current year is a time of
    big challenge for the Eurasian Economic Union, but we will discuss
    this with other EEU member-countries," Nazarbayev said.

    http://www.armradio.am/en/2015/03/20/eurasian-economic-union-going-through-a-great-test-nazarbayev/

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