EU accounts for over 50% of EAEU's total foreign trade, says Kazakh Ambassador

MOSCOW. KAZINFORM - The Ambassador of the Republic of Kazakhstan to the Russian Federation, Imangali Tasmagambetov, called on European businesses to take advantage of the opportunities of the Eurasian transport corridor, Kazinform correspondent in Moscow cites the press service of the Kazakh Embassy in Russia

It has been revealed that Imangali Tasmagambetov took part in the panel discussion on the EU-EAEU economic dialogue organized by the German Embassy in Russia. Addressing the platform, the head of the diplomatic mission pointed out that the EAEU was established and successfully operates owing to the initiative of the President of Kazakhstan Nursultan Nazarbayev.

"And this makes deepening of the cooperation between the European and Eurasian Unions vitally important. The European Union has traditionally been the largest trading partner of the entire Eurasian Economic Union. The EU accounts for more than 50% of the total foreign trade of the EAEU member states," Imangali Tasmagambetov said.

In the era of rapid technological development, any novelty gets out-of-date faster than it enters the high-tech market. Therefore, the goods delivery time often plays a more important role than the cost of transportation.

In this regard, as the ambassador emphasized, the Trans-Eurasian land routes connecting Europe and Asia have a distinct competitive advantage over the sea routes.

"Kazakhstan is ready for such a challenge. The government program has been virtually implemented in our country. Over the past 26 years, we have built and reconstructed over 10,000 km of roads. In the near future, we will complete the modernization of other 8,000 km of roads. More than 2,500 km of new railways have been built," Imangali Tasmagambetov recalled.

The report "Eurasian Economic Union - Analysis from the Lens of Trade Policy" containing interesting figures and facts was presented in the course of the discussion.