Kazakhstan and Monaco to expand cooperation in medicine and education

During the official trip to Monaco Kazakhstan President Nursultan Nazarbayev said that the countries would expand cooperation in medicine, education and legal system, Tengrinews reports citing the President’s press-service. “It is amazing that a small country with a small territory has such grand plans. We will work to expand cooperation with Monaco, including in medicine, education and development of the legal system,” the President stressed. The President took part in the presentation of the urban and financial development of the country. He noted the common goals of the two countries that focus on education, healthcare and do a lot of construction. “The difference is that Monaco is doing this at the territory of two square kilometers, while Kazakhstan has to do it at 2.7 million square kilometers. Monaco has a centuries-long traditions and is successfully absorbing the experience of the whole world, while we are just starting our independent path and have much to learn,” Nazarbayev said. Monaco has a zero external debt, while Kazakhstan has a government debt of 4-5 percent of GDP and the budget deficit of 3.5 percent. he said, and added that Kazakhstan’s national reserves made $90 billion, which allowed it to talk about deficit- and debt-free budget. Kazakhstan President stressed the necessity of studying the experience of Monaco’s banking system, where the share of foreign banks makes 95 percent and this does not undermine its stability or hinder the dynamic development. “Last year’s visit of Albert II, the exhibition in Kazakhstan devoted to Princess Grace and my current visit make the first historical pages in the relations between our people and states,” Nursultan Nazarbayev stated.