TODAY.AZ / World news

Kazakhstan to issue funds to Kyrgyzstan for integration into EurAsEC

17 May 2017 [15:34] - TODAY.AZ

By Azernews

By Kamila Aliyeva

The Majilis (lower chamber) of the Kazakh Parliament approved the draft law "On ratification of the Agreement between the Government of Kazakhstan and the Government of Kyrgyzstan on the development of economic cooperation in the conditions of Eurasian economic integration," TASS reported.

Under the agreement, the Kazakh side will render assistance in an amount of $100 million to the Kyrgyz side in order to facilitate the integration processes of the Kyrgyz Republic into the Eurasian Economic Community (EurAsEC), Kazakh Minister of National Economy Timur Suleimenov said while presenting the bill to the MPs.

The assistance for the implementation of the activities envisaged by the "Road Maps" for the accession of Kyrgyzstan to the Eurasian Economic Union will be provided.

"The funds will be directed for improving customs infrastructure in the Kyrgyz section of the EurAsEC customs border, bringing the sanitary, veterinary and phytosanitary systems of Kyrgyzstan in compliance with the requirements of the Eurasian Economic Community," Suleimenov explained.

The assistance will be provided step-by-step in accordance with separate intergovernmental protocols on technical assistance in the form of cash, training services, and goods.

The procedure for providing assistance, as well as mechanisms for monitoring its implementation, will be determined by a separate protocol.

After Majilis’s approval, the bill will be submitted to the Senate (upper chamber) of the Parliament for consideration.

EurAsEC is an international integration economic association which includes Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan. EurAsEC started its work on January 1, 2015.


Print version

Views: 1213

Connect with us. Get latest news and updates.

Recommend news to friend

  • Your name:
  • Your e-mail:
  • Friend's name:
  • Friend's e-mail: