The Central Bank of Kazakhstan: countries of the EEU does not discuss the issue of introduction of common currency

The Central Bank of Kazakhstan: countries of the EEU does not discuss the issue of introduction of common currency


The Treaty of the Eurasian economic Union does not contain any provisions on the introduction of a single supranational currency in the countries of the organization, therefore, today these measures are not discussed, said the head of the National Bank of Kazakhstan Daniyar Akishev.

ALMATY, Dec 22 – Michael Egorin. The countries of the Eurasian economic Union (EEU), does not discuss the creation of a single currency of the Union, said the head of the National Bank of Kazakhstan Daniyar Akishev.

The Chairman of the Duma Committee on CIS Affairs, Eurasian integration and relations with compatriots Leonid Slutsky has previously stated in the TV program “Posner” on channel one, that the work on the creation of a single unit of account for the EAEU countries is difficult, but it is, and suggested that this currency can be called Evraz.

“For us 2015 is the first year of functioning of the Eurasian economic Union. And the contract that is the basis for the functioning of this Union, do not contain any provisions on the introduction of a single supranational currency in the countries of the Eurasian economic Union. Accordingly, these measures are not discussed,” said Akishev Tuesday at a press conference in Almaty.

Earlier, in mid-December, the possibility of creating a single currency of the EEU was denied and the President of Kazakhstan Nursultan Nazarbayev. Thus Akishev stressed that integration processes within the Eurasian economic Union, including in the field of functioning of the financial market, are useful to member countries of the Union.

“The other issue is the question of our further integration with our neighbours, building common financial market, here we do a lot of work. In this work I only see the positive. We need to work to withstand global competition and to develop the necessary tools”, — concluded the head of the Central Bank of Kazakhstan.

The EEU was established in 2014 on the basis of the Customs Union of Russia, Kazakhstan and Belarus. In addition, the Union now includes Armenia and Kyrgyzstan. The EEU is engaged in regional economic integration and operates on the basis of norms and WTO principles.

How created the EEU

The Eurasian economic Union (EEU) and economic Union within the Eurasian integration 1 January 2015 is created on the basis of the Customs Union of Russia, Kazakhstan and Belarus. Cooperation in the field of interstate integration in the economic sphere in the post-Soviet space is carried out from late 1990-ies. 26 February 1999 Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan signed the agreement on the Customs Union and the common economic space. Read more in help >>

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