On August 26, Prime Minister of Kazakhstan Alikhan Smailov put forward a number of constructive proposals at the meeting of the Eurasian Intergovernmental Council aimed at creating convenient and effective tools within the Union, the press office of the Prime Minister of the Republic of Kazakhstan reported to CentralAsia.news.
Alikhan Smailov specified that in modern conditions the EAEU Member States are witnessing a rapid “rise” in prices, in particular food prices. He noted that the prices in the EAEU space increased by almost 13% in half a year alone.
Along with other triggering factors, the Prime Minister mentioned significant distortions in the exchange rates of national currencies, which are based on streaming quotes against the dollar. He emphasised that this situation adversely affects the trade and inflationary processes in the EAEU Member States.
In this regard, the Prime Minister initiated ad-hoc consultation among representatives of central banks so that real approaches to solving this dilemma would be in place by the next meeting.
Among other urgent issues to be addressed, Smailov mentioned the free movement of goods that will boost exports on the EAEU space. The head of the Kazakhstan delegation emphasised that the solution of these problems is closely linked to the modernisation of the infrastructure of the East-West and North-South transport corridors.