Floating rate of tenge to broaden opportunities for Kazakhstan exporters - Kazakhstan’s minister of national economy

ASTANA, August 20. /TASS/. Introduction of a floating national currency rate broadens opportunities for Kazakhstan companies on the Eurasian Economic Union (EAEU) market, Kazakhstan’s Minister of National Economy Erbolat Dosaev said on Thursday. "Considering the transition to the new exchange rate policy for the Kazakhstan’s economy, market will nevertheless open for Kazakhstan producers of goods and services. I may say Russia and China are the main markets where we may be competitive at present," the minister said. Economies of Kazakhstan and Russia are experiencing similar difficulties related to the situation on international markets, the minister said. "Our economic structure is similar to the one in the Russian Federation; both nations are export-oriented, when a large portion of revenues depends on the export of raw materials. That is why when we speak about integration with the global economy, it provides huge benefits along with all the negative consequences we experience now," Dosaev said. The main task of EAEU member-nations in this regard is "to speed up economic diversification," the minister said. Read more