Kazakhstan’s PM on new rules of the game in the global economy

22 мая 2014, 19:33
Photo courtesy of chessok.net
Photo courtesy of chessok.net

Kazakhstan’s PM Karim Massimov has announced new rules of the game in the global economy, a Tengrinews.kz journalist reports from the VII Astana Economic Forum.

When speaking at the Forum, the PM cited some Asian viewpoints on the global development. According to him, the Chinese believe the next 30-year-long cycle has started this year, with the cycle being drastically different from the previous one. “Like it or not, we are living in a different world. Some of the rules widely accepted back in 2013 are no longer working in 2014. (…) globalization is no longer working as it did previously. The rules have changed in 2014”, he said.

Mr. Massimov emphasized that “now some governments tell their respective companies where they are supposed to operate (…) that is geopolitics are of greater importance than the global economy”.

“Here in Kazakhstan we need to take into due consideration the change of the rules. We should be cautious when taking practical decisions”, he said.

Head of the Kazakhstan’s Government reminded that the Customs Union of Kazakhstan, Russia and Belarus would be transformed into the Eurasian Economic Union in a week’s time. “Being part of the Organization, Kazakhstan will remain an independent, sovereign state. This year we are expecting to join the WTO, we seek to sign an agreement to further cooperation with the EU, we strive for expanding ties with China. At the same time we want to be part of the Eurasian Economic Union”.

According to him, in the decade to follow Russia will be more focused on cooperation with the East, rather than with the West. “Kazakhstan is located between Russia and China. We will see greater transport flows from Russia to China and back. It would be wise for Kazakhstan to capitalize on the location. (…) We need to work on attracting investments from all over the world to ensure greater stability (…) I believe we should carefully think of what the new rules of the game are like”, he summed up.

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