21.07.2022 (Обновлено: 01.08.2022 10:43)

Bakytzhan Sagintaev and representatives of Kazakhstan’s financial market discussed development of Eurasian integration

Bakytzhan Sagintaev, Minister in charge of Economy and Financial Policy of the Eurasian Economic Commission, held a meeting with participants of the Kazakh financial market on July 21 in Almaty.


The meeting was attended by Madina Abylkasymova, Chairman of the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan, Vitaly Tutushkin, Deputy Chairman of the National Bank of Kazakhstan, Elena Bakhmutova, Chairman of the Association of Financiers of Kazakhstan, representatives of the banking and insurance sectors, as well as professional security market participants.

Bakytzhan Sagintaev informed his colleagues on the Commission’s work in the field of financial markets of the Eurasian Economic Union.

"Implementing integration in the field of financial markets is one of our prime objectives. I am convinced that its solution will enable creating conditions for unhindered movement of capital and financial services within the Union, and will increase the availability and variety of investment and financial services", the Minister noted. "For example, efforts are underway in the banking and insurance sectors to introduce a standardized license institution, and to build a common exchange space in the securities market".

When discussing the dynamics of using national currencies in trade relations, the meeting attendees noted that owing to integration processes, the share of mutual trade in national currencies exceeded 70% with the potential for further growth.
Bakytzhan Sagintaev stressed that "mutual trade and financial flows between the Member States should be increased despite the stable growth of mutual settlements in national currencies".

During the meeting, the attendees exchanged views on further interaction and strengthening cooperation within the Eurasian integration.