Nursultan Nazarbayev emphasises the role of EDB

On 28 April 2014 President of Kazakhstan Nursultan Nazarbayev delivered a lecture at the Lomonosov Moscow State University titled From the Idea of the Eurasian Union to New Prospects of Eurasian Integration.

In his lecture the head of Kazakhstan offered a deep analysis of the Eurasian integration process and elaborated on its core problems and key growth drivers. He also presented his vision of the prospects for the development of the Eurasian Economic Union in the near decades.

Nursultan Nazarbayev reminded that it was he who twenty years ago proposed to create the Eurasian Union, which “is only possible on the principles of voluntariness, equality, mutual benefit and taking into account the pragmatic interests of each member state.” “My idea, which was not understood and was underestimated by most CIS politicians at the time, is now in high demand in business circles and at the public and humanitarian level,” said the President. “Many joint floors that feed Eurasian integration have appeared and are working successfully now.” Eurasian Development Bank was named the first on his list.

Speaking about the strategic development priorities of the Eurasian Economic Union for the next fifteen to twenty years, Nursultan Nazarbayev stated that small and medium-sized enterprises should form the foundation of the common Eurasian economy. “This is the most important issue of ensuring a flexible response to all possible global economic challenges,” said the head of Kazakhstan, emphasising, that “institutes of financial and service support can be created on the basis of the functioning Eurasian Development Bank.” “The Bank is already working. Other countries — China, for example, — want join this bank and it becomes a large centre of finance for joint projects,” concluded Nursultan Nazarbayev.

The lecture of the President of Kazakhstan is available online at: https://www.youtube.com/watch?v=Iv92-L5uvq4