Bakhyt Sultanov comments on EDB Chairman’s statement on introduction of common currency in EAEU

NUR-SULTAN. KAZINFORM Minister of Trade and Integration Bakhyt Sultanov has commented on the statement of Chairman of Eurasian Development Bank Management Board Andrey Belyaninov on introduction of a common currency in the Eurasian Economic Union member states, Kazinform correspondent.

According to him, the Eurasian Development Bank is an international development institution which finances investment and integration projects. «Therefore, I believe that he does not and cannot have a mandate to discuss the introduction of a single currency within the EAEU,» Sultanov noted.

«I believe, it is a personal position of Mr. Belyaninov,» he said

«The main objective of the EAEU is to eliminate the barriers in trade between our countries, including the introduction of common tariffs and requirements to the goods and application of common tariff and non-tariff measures and other instruments to the imports from the third countries.

Taking into account that the financial market and monetary policy directly impact the conditions for trade, competitiveness of goods and services, we agreed to use concerted tools to coordinate them.

Nevertheless, the member countries’ national banks independently conduct monetary policies, ensure financial stability and supervise financial market entities.

I would like to repeat that the introduction of a common currency on the EAEU space is not planned.,» Bakhyt Sultanov stressed.