Kazakhstan could serve as EAEU's buffer market in trade with Asia, Mideast - Tokayev

NUR-SULTAN. June 17 (Interfax) - The Eurasian Economic Union (EAEU) should come up with a new trade strategy to pursue a more flexible trade policy with Asia and the Middle East, Kazakhstan's President Kassym-Jomart Tokayev said.

"In my view, it would be relevant and useful to draw up a new EAEU trade strategy to take into account the new reality. Rather than countersanctions, which are unlikely to be productive, we should pursue a more active and flexible trade policy with a broad embrace of Asian and Middle Eastern markets. Kazakhstan could play the useful role of a kind of buffer market," Tokayev said at a session of the St. Petersburg International Economic Forum in St. Petersburg on Friday.

Ultimately, the success of Eurasian integration largely depends precisely on the efficiency of the joint trade strategy, he said.

"[Kazakhstan] will continue its course towards building an inclusive, fair society, eliminating social inequality," Tokayev said. "The fight against excessive inflation and food shortages is our shared goal.

"Our first priority is to support enterprise and improve the business climate for maximum protection of investors' rights, stability and predictability. We will fully honor all our obligations to our traditional partners," he said.

Kazakhstan will also continue the "policy of preserving cultural diversity and advancing inter-civilizational dialogue at the international level," Tokayev said, noting that this September, Nur-Sultan is due to host the next Congress of the leaders of world and traditional religions. "We welcome the participation of religious figures from Russia in this forum."