You're reading: Kyrgyz leader endorses country’s accession to Eurasian Economic Union

BISHKEK - Kyrgyz President Almazbek Atambayev signed into law a bill ratifying the treaties on the country's accession to the Eurasian Economic Union (EEU) at a ceremony attended by top government officials and the ambassadors of the EEU member-states on May 21, an Interfax correspondent reported from the venue.

“Hence, we are completing all internal procedures on joining one of the largest economic unions in the world. We have a lot of work ahead,” Atambayev said at the ceremony.

“Accession to the Eurasian Economic Union fully meets Kyrgyzstan’s national interests,” he said.

“Kyrgyzstan declared its intention to join the EEU in April 2011,” Atambayev said. “A lot of work has been done over this time, in the course of which we secured good preferences, and we now have absolutely different prospects for developing our economy and business and for an inflow of investments both from the EEU countries and from countries outside it,” Atambayev said.

Kyrgyzstan’s membership in the EEU is “a chance for the economy and for switching from a speculative economy to a real economy, and we will switch from a re-export-oriented economy to a dynamic one,” he said.

A Kyrgyzstan-Russian development fund has been set up to implement major investment projects with Russia’s support, and its capital should reach $1 billion in the future, Atambayev said. Russia and Kyrgyzstan have also allocated $300 million to provide the EEU’s outer borderline with the necessary infrastructure and equipment. “Due to this, we have the chance to improve the certification system, which is a great chance for our producers to export high-level products,” he said.

Kyrgyzstan’s accession to the EEU also opens up great prospects for migrant workers, “who will now find it easier to live and work,” he said.

Kyrgyzstan will officially become and EEU member after all its member-states have ratified the accession treaty. Kyrgyzstan expects the process to be completed in the summer of 2015.