New collapse in world prices for raw commodities possible in 2013-2014 - Nazarbayev
ASTANA. Dec 14 (Interfax) - The world economy might witness another collapse in commodities prices in 2013-2014, Kazakhstan President Nursultan Nazarbayev has said.
"We now see the continuation of the 2007-2008 crisis, from which the world economy hasn't emerged. In 2013-2014, the global economic system may badly fail again. For instance, world raw materials' prices may fall, which will have a very unfavorable impact on us," Nazarbayev said in Astana on Friday in an address to the nation.
"Therefore, we should be fully prepared, realize all these challenges and be able to take preventive measures to use the situation for the benefit of our country," Nazarbayev said.
He said that Kazakhstan's most immediate goal is the creation of a Eurasian Economic Union.
"We will strengthen the Customs Union and the Common Economic Space. Our immediate coal is the creation of a Eurasian Economic Union," Nazarbayev said.
"At the same time, we very concisely state that the country's political system is unshakable. No one should encroach on it. Issues in the Customs Union and the Common Economic Space, and the Eurasian Economic Union are only settled by consensus. Nothing is decided without the consensus of the three countries. Therefore, nobody should be infringed upon," he said.
