Editorial

Central Asia-EU Business Council

Written by The Frontier Post

Prime Minister of Kazakhstan, Askar Mamin proposed to establish “Central Asia-EU Business Council” in which heads of government agencies and business representatives will participate to enhance business cooperation among their countries. The announcement was made by the Prime Minister of Kazakhstan following his speech at the first economic forum of the EU and Central Asia in Bishkek. The Kazak Prime Minister proposed that Astana International Financial Center would act as a main hub for foreign investors firms to operate in a favorable tax, visa, and labor regime. The Kazak Prime Minister also wants to visualize the concept of green economy through sustainable development for Central Asia and Europe Union countries. Prime minister Mamin also emphasized the importance of integrating the production assets of the EU and Central Asia nations for the formation of new chains of production and marketing of products. The head of the government of Kazakhstan stressed the need to strengthen joint work in the EU-Central Asia format.

The Central Asia region comprises five states including Tajikistan, Turkmenistan, Kazakhstan, Kyrgyzstan, and Uzbekistan. The region has much importance due to its geostrategic location vis-à-vis abundance of natural resources including massive reservoirs of oil and natural gas in the regional states. The region carries great attraction for the global powers including Russia, China, United States and European Union due to its location, resources, and political affiliation to the future power blocs of the world. Russia had tried to influence the regional states through Collective Security Treaty Organization (CESTO), a military pact under Russian management, while China sold out its doctrine of belt and road initiative to reach out regional markets and mineral resources. The United States had engaged regional countries in military pacts during the war on terror, whereas the EU also tried to get its due share in the regional market while advocating for democracy and human rights. Presently, Kazak Prime Minister has formed the Central Asia-EU Business Council to promote trade relations with Europe. Hopefully, the EU would reciprocate this endeavor and Central Asia-EU business relations would boom in the days to come.

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The Frontier Post