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Kazakhstan Switches to Inflation Targeting As Tenge Slips Pakistan

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Kazakhstan Switches to Inflation Targeting As Tenge Slips Pakistan +13° / +05°C WEDNESDAY, AUGUST 26, 2015 No 16 (82) www.astanatimes.com Kazakhstan Switches to Inflation Nazarbayev Discusses Targeting as Tenge Slips Economic Challenges with Exporters By Malika Orazgaliyeva 2014, it dropped to $48.50 [for a barrel of Brent crude oil]. Prices ASTANA – President Nursultan for metals have also dropped; Nazarbayev held a meeting with since 2011, the price index has Kazakhstan’s major exporters and fallen by 45.5 percent. This representatives of the National year alone, the price of copper Chamber of Entrepreneurs (NCE) dropped from $6,300 to $5,100 and business circles of the coun- per tonne,” he stressed. try on Aug. 20. Nazarbayev noted that low Addressing the gathering, Naz- prices for oil and metals could arbayev drew attention to the dif- remain for at least five years. He ficult state of the global economy. also pointed out the sharp drop in “The World Bank and the In- demand for Kazakhstan’s export ternational Monetary Fund have products by the country’s main once again lowered their fore- trade partners, China and Russia. casts for global economic growth According to the National Bank, to 2.8 percent and 3.5 percent, Kazakhstan’s exports in the first respectively. The decrease of oil half of the year decreased by 73 prices in the world continues. percent. From its peak of $115 in June Continued on Page A3 Customs Controls Removed on Border as Kyrgyzstan Joins EAEU ment of goods, services, capital and By Malika Orazgaliyeva workforce within the union. During the ceremony, Naz- ASTANA – The presidents of Ka- arbayev stressed the importance zakhstan Nursultan Nazarbayev and of integrating Kyrgyzstan into the Kyrgyzstan Almazbek Atambayev EAEU, underlining that it meets participated on Aug. 12 in a ceremo- the interests of Kazakhstan and will Prime Minister Karim Massimov (C) and banking and finance officials address the media at a Central Communications Servicebriefing on Aug. 20, announcing new ny to remove customs controls on the further expand economic coopera- economic policies, including a shift to a free-floating tenge exchange rate. nations’ border, reported the Akorda tion between the two nations. presidential residence press service. “The removal of the customs wasn’t a devaluation. “This is not The heads of state observed the border between the two countries By Michelle Witte a two-hour press conference at- Bank Chairman Kairat Kelim- a devaluation; this is a transition to elimination of the checkpoints is very significant. It will create new business opportunities for the tended by the nation’s top finance betov. As the announcement was a freely floating rate when the mar- between the two countries via a ASTANA – Kazakhstan transi- two states and revive mutual trade. and government officials, includ- made, the tenge dropped a further ket itself determines a balanced ex- live video link from their meeting tioned ahead of schedule to a free- ing Prime Minister Karim Massi- 20 percent and settled at 255.26 Fulfilling the agreements that were change rate on the basis of supply place in Cholpon-Ata on Lake reached in the framework of the floating exchange rate on Aug. 20 mov, First Deputy Prime Minister tenge per dollar, versus 188 to the and demand,” he said. An equilib- Issyk-Kul. after the currency fell 5 percent EAEU, we will be moving forward Bakhytzhan Sagintayev, Minister dollar two days prior. The overall rium will be found in five to seven The action is one of the key com- in the creation of a single economic against the dollar in commercial of National Economy Yerbolat drop over two days amounted to days, he said, and appropriate next ponents of the Eurasian Economic space. I am sure that we will see real, exchanges the day before. Dossayev, Minister of Finance 26 percent. steps will be taken then. Union (EAEU) treaty, which focuses positive results,” said Nazarbayev. The move was announced in Bakhyt Sultanov and National Kelimbetov insisted the change Continued on Page A2 on promoting the freedom of move- Continued on Page A4 Pakistan Has Always World Judo Championship Kicks Off Sought ‘Connectivity at Alau Sports Palace in Astana with Central Asia,’ PM Sharif Says Prime Minister Nawaz Sharif of Pakistan By Ilyas Omarov What is the main purpose of your visit to Kazakhstan? Ahead of his visit to Astana on The purpose of my visit is Aug. 25-26, Prime Minister Nawaz to further strengthen Pakistan- Sharif of Pakistan shared his views Kazakhstan ties, expand coop- on the potential of bilateral coop- eration in different areas and eration, issues of regional security increase bilateral trade, invest- and cooperation, the situation in ment and economic cooperation. Afghanistan, the fight against the We will also exchange views so-called Islamic State, Pakistan’s on how to work together for a cultural diplomacy as well as other peaceful and stable region. issues in an interview with The Astana Times. Continued on Page A2 Yeldos Smetov throws his opponent en route to winning Kazakhstan’s first gold medal in the World Judo Championship on Aug. 24. INSIDE NATION & EURASIA&WORLD ECONOMY & BUSINESS EDitoriaLS OPINIONS NatioN & CAPitaL UN Special Rapporteurs’ Recommendations President Reviews Economic Policies A4 Kazakhstan’s Constitution Turns 20, Remains AMANO: IAEA Low-Enriched Uranium Bank ATOM Project Calls for Global Moment of Form Basis of National Human Rights in Kazakhstan Marks a Milestone in Nuclear Samruk Kazyna Launches Eleven Industrial Central to Country’s Development A6 Silence on International Day against Nuclear Dialogue A2 Cooperation A7 Tests B1 Projects A5 Modern Challenges Highlight Importance President’s Special Envoy Visits of IAEA LEU Bank in Kazakhstan A6 BANERJIE: 100 Concrete Steps Lay Astana Leads Eurasian Cities in International Foundation for Modern Nation A7 Cambodia, Laos A3 Activity B8 US$ 1 = 230.11 KZT 1 Euro = 265.73 KZT 1 Rouble = 3.29 KZT A2 NATION WEDNESDAY, AUGUST 26, 2015 NATIONAL UN Special Rapporteurs’ Recommendations NEWS IN BRIEF Newly appointed chairman of the Astana EXPO 2017 Company, Akhmetzhan Yessimov, has begun Form Basis of National Human Rights Dialogue his tenure by cutting top manage- ed Nations Development Pro- mental code of Kazakhstan, during its 29th session in June. ment by nearly half and restructur- By Aiman Turebekova gramme (UNDP) projects in which regulates the right of ac- The visit was carried out pursu- ing the organisation, Tengrinews Kazakhstan aimed at assisting cess to environmental informa- ant to his mandate to assess the reports. Yessimov, a former mayor ASTANA – The regular meet- the government in solving the tion, is fully consistent with the situation of freedoms of peaceful of Almaty who was appointed ing of the Dialogue Platform on problem of hazardous waste and principles of the Aarhus Conven- assembly and association in Ka- on Aug. 9, has cut the number of the Human Dimension, a consul- chemicals. The project to devel- tion,” she said. zakhstan. The special rapporteur deputy chairmen from five to three tative advisory body, was held op and implement a comprehen- The deputy director added that concluded his visit by challeng- and the number of managing di- on Aug. 21 at the Kazakh Min- sive plan to manage PCBs was the document did not include in- ing the government to build on rectors from nine to four. Depart- istry of Foreign Affairs. Chaired executed due to cooperation of formation on the existence of the its achievements in the economic ments have been merged, bringing by Kazakh Ambassador-at-Large the UNDP, the Global Environ- national report about the current arena during the past 23 years the number of separate depart- Usen Suleimen, the session was ment Facility and Kazakh gov- environmental situation and use by facilitating and opening up ments from 20 to 18. Former Asta- attended by Maina Kiai, the ernment. As a result, 232 tonnes of natural resources, which can democratic space, in particular na EXPO 2017 Chairman Talgat United Nations (UN) special of waste containing persistent be found on the Ministry of En- the rights to freedom of peaceful Yermegiyayev was relieved of his rapporteur on the rights to free- UN Special Rapporteur Maina Kiai organic compounds were safely ergy website. assembly and association. position on June 11 and charged dom of peaceful assembly and of destroyed. The public’s main concern in In response, Deputy Director with embezzlement, misappropria- association. cannot continue living in fear,” In the framework of the pro- terms of the environmental safe- of the Department of Interna- tion of property and other crimes. The Dialogue Platform on the he stressed. “The pronounced ject on energy efficiency, local ty of living conditions surfaced tional Law of the Kazakh Minis- A number of former top managers Human Dimension has served commitment of the government authorities are working to col- in 2014-2015 through numerous try of Justice Alua Nadirkulova have also been caught up in a cor- since 2013 as the format for reg- to protect and promote human lect and recycle resident’s mer- cases of people affected by the said the recommendations have ruption investigation. ular interaction between govern- rights should be made into re- cury-containing lamps. Another negative impact of the environ- been accepted and the necessary ment agencies tasked with pro- ality. The government should UNDP project, “Updating the ment in the villages of Berezov- process to further improve legis- Kazakhstan’s population ex- tecting human rights and civil further its efforts to provide pro- national action plan; integration ka in the Western Kazakhstan re- lation in this area was launched. ceeded 17.5 million people on July society organisations involved in tection to those populations in management of persistent organ- gion and Kalachi of the Akmola The meeting also included the 1, the country’s Committee on Sta- the same issue.
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