EAEU states to launch financial support mechanism for joint industrial cooperation programs - Kazakh PM

ALMATY. Feb 2 (Interfax) - The member countries of the Eurasian Economic Union (EAEU) will launch a mechanism in 2024 to provide financial support to joint industrial cooperation projects, Kazakh Prime Minister Alikhan Smailov said.

"Kazakh President Kassym-Jomart Tokayev noted that our country, bearing in mind its geography and capabilities, stands ready to act as a center for the development of industrial cooperation. A financial support mechanism for joint projects will be launched this year in order to boost cooperation in this area within the EAEU," Smailov said at a Eurasian Intergovernmental Council meeting in Almaty on Friday.

The mechanism will help implement strategic projects, effectively promote business initiatives, considerably increase mutual investments and create new jobs, he said.

"The implementation of large industrial cooperation projects will ensure the development of the member states' technological potential. On the whole, I believe it is important to further broaden the instruments of financial support for joint initiatives," Smailov said.