President Kassym-Jomart Tokayev took part at a meeting of the Supreme Eurasian Economic Council, El.kz news agency reports with reference to Akorda.
He noted that traditionally at the December meetings the results of joint work are summed up and tasks for the coming period are determined.
"The outgoing year for the global economy was extremely difficult. Before it could recover from the effects of the pandemic, the international community faced new geopolitical and economic challenges. We see how various kinds of bans, quotas and duties are being introduced in the world, seriously restricting trade," the Head of State said.
Kazakh Leader stressed that against this background, active cooperation within the framework of the EAEU is positively different from global trends.
"Despite the pressure of external factors, Kazakhstan's trade turnover with the EAEU countries in January-October of this year increased by more than 7%, amounting to $ 23 billion. Large-scale joint projects are being implemented, the share of national currencies in mutual settlements is increasing," he said.
The Head of Kazakhstan informed about the disappointing forecasts of international organizations.
"The International Monetary Fund lowered the forecast for global economic growth in 2023 to 2.7%, the World Trade Organization - to 1%. And according to the Eurasian Economic Commission, consumer prices continue to rise in the EAEU countries. Inflation within the Union in October was 11.5%. Its main increase falls on food and non-food products. All this significantly affects the purchasing power and social well-being of our citizens," Kassym-Jomart Tokayev concluded.
The President also proposed to find ways to mitigate the impact of sanctions on the market of the Customs Union.
"We must admit that the well-known sanctions restrictions put pressure on the economies of all EAEU member states. Therefore, the Commission and the Governments of our countries should pay special attention to this issue and propose ways to mitigate their impact of these sanctions restrictions," he stressed.