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Fitch Affirms Country's Rating at BBB with Stable

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Fitch Affirms Country's Rating at BBB with Stable +12° /+4°C WEDNESDAY, SEPTEMBER 25, 2019 No 18 (180) www.astanatimes.com Nazarbayev urges Eurasian parliaments Kazakhstan Energy Week to be more active in policy decisions examines latest trends, and international cooperation future of energy sector mous and fragmented throughout By Aidana Yergaliyeva Kazakhstan in cities and regions. Market participants have had lim- NUR-SULTAN – International ited opportunities “for obtaining a energy corporations heads will complete picture of the current state discuss how global market trends and future of energy” and hence, will affect the energy sector during they have had no “opportunity to approximately 20 events to be held build a constructive dialogue in the as part of the Kazakhstan Energy ‘government-business’ format, re- Week (KEW), which kicked off ceiving online answers to all ques- Sept. 23 and will last till Sept. 27 tions,” KAZENERGY Director in Nur-Sultan. General Bolat Akchulakov told The The main event will be the 12th Astana Times. KAZENERGY Eurasian Forum. In addition, the KAZENERGY For the last 11 years, the KA- Forum will host roundtables on en- ZENERGY Association has been vironmental and digital solutions organising the KAZENERGY Fo- for sustainable energy, the use of in- rum in the Kazakh capital to dis- novations to produce clean coal, as cuss global and regional energy well as on exploration safety issues sector challenges. in the oil and gas, oil refining, pet- The Association changed the long rochemical and mining industries in tradition of scattered energy forums Kazakhstan and the Eurasian Eco- to a single energy week in 2019. nomic Community countries. The previous forums were autono- Continued on Page A5 Photo credit: Kazakhstan’s First President Press Service Press First President Kazakhstan’s Photo credit: Fitch affirms country’s Forum participants pose for a group photo. ally turned into the parliamentary nent international agreements, in- vening an international high-level rating at BBB By Assel Satubaldina capital of Eurasia,” Nigmatulin cluding the Paris Climate Agree- UN conference to reaffirm the ba- told the gathering, which was ment and the Comprehensive sic principles of international law. NUR-SULTAN – Kazakhstan’s themed.“Greater Eurasia: Dia- Nuclear Test Ban Treaty. Eurasian parliamentarians could First President, Nursultan Naz- logue. Trust. Partnership.” “Understanding the depth and add their contribution in this area with stable outlook arbayev, urged the national par- The event, he noted, is sym- acuteness of global trust between by initiating a high-level legislative Nazarbayev, who remains the liaments of Eurasia to be more bolic, as this year marks the 25th world powers, who else rather than debate to revive the central role of By Assel Satubaldina chairman of both the Security Coun- involved in shaping their nations’ anniversary since Nazarbayev pro- people elected by fellow citizens the UN charter,” he added. cil and the ruling Nur Otan party, will policies and in strengthening in- posed the Eurasian integration ini- could contribute to overcoming Nazarbayev proposed Nur-Sultan NUR-SULTAN – The Fitch retain a “considerable influence.” ternational cooperation during the tiative in 1994 in Moscow. this,” he said. host in 2020 the informal meeting credit rating agency affirmed Ka- The Kazakh economy grew 4.1 opening session of the Sept. 23-24 Eurasia is the world’s largest The Eurasian parliaments, he of the parliaments of the European zakhstan’s long-term foreign cur- percent in the first six months of Fourth Meeting of Speakers of the continent. It is home to 65 percent noted, should also strive for great- Union, China, Russia and the Unit- rency issuer default rating (IDR) 2019 supported by the growth in Eurasian Countries’ Parliaments. of the world’s population and ac- er cooperation in their legislative ed States. at BBB with a Stable Outlook, the manufacturing, construction Parliamentary delegations from counts for 75 percent of energy activities. “The confrontation between these according to the Fitch ratings pub- and service sectors, said Fitch. 65 countries, including 41 led by the resources and 40 percent of global “We need to consolidate the in- countries concerns the entire world. lished Sept. 6. The agency expects growth will speakers of parliaments, and heads gross domestic product. The suc- terparliamentary community and These counties are those who stood Fitch noted Kazakhstan’s out- be 3.8 percent in 2019, compared of 14 international and interparlia- cess of integration in Eurasia de- boost the efficiency of joint efforts behind the creation of the League look features strong public and to a 3.3 percent BBB median, un- mentary organisations attended. pends on legislative support for the in legislative framework. The large of Nations and the United Nations. external balance sheets supported derpinned by “robust domestic Among them were the Organisa- integration process. amount of work has to deal with I believe they recognise their spe- by large government savings and demand, fostered by government tion for Security and Cooperation Nazarbayev emphasised the im- harmonisation of the legal acts,” cial responsibility for the future of a substantial net foreign asset po- social measures and infrastructure in Europe (OSCE) and the Collec- portant role of parliamentarians in he said. humanity,” said Nazarbayev. sition. projects in the construction, hous- tive Security Treaty Organisation enhancing cooperation between Legislation should also be unified Bringing the European Union, The outlook, however, also re- ing and transportation sectors.” (CSTO) parliamentary assem- Europe and Asia and in overcom- in fight against crime. Nazarbayev Russia, China and the United States flects high commodity depend- “Net exports contribution to blies, Inter-Parliamentary Union, ing the “crisis of international urged the formation of a common together is part of Nazarbayev’s idea ence, the weak banking sector and growth will be lower in 2019 as oil Asian Parliamentary Assembly, law.” definition for terrorism as well as to boost global dialogue and econom- lower World Bank governance in- production is dampened by main- Asian Forum of Parliamentar- “We are all witnessing a crisis the creation of a single list of ter- ic and security cooperation in what he dicators and gross domestic prod- tenance work in the country major ians of Population and Develop- in the system of international law, rorists, extremist organisations and defined as the “Three D” dialogue. uct per capita than the BBB me- oil field and Organisation of Petro- ment, the European Parliament, more often its erosion, ignorance, international organised criminal Nazarbayev also voiced the idea dian and higher inflation. leum Exporting Countries’ limits. the Conference on Interaction and blurring or violation. We are aware groups in the Eurasian region. during the UN General Assembly The report notes the politi- Fitch forecasts a moderate accel- Confidence-Building Measures in of the cases, when the sovereignty, Regulations should also be tight- in 2015 and in April during the Belt cal change in Kazakhstan, which eration in growth to 3.9 percent Asia (CICA) and Organisation of territorial integrity of the states ened for online drug sales. and Road Initiative Forum in Bei- unfolded since the resignation and 4 percent in 2020 and 2021, Islamic Cooperation (OIC) Parlia- was violated and all previously “We also expect the work in de- jing. of Kazakhstan’s First President, helped by the planned expansion mentary Union. agreed agreements were broken. veloping the legal base to transition Countries represent the first dia- Nursultan Nazarbayev, in March, of the Tengiz oil field,” said Fitch. Kazakh Mazhilis (lower house The arbitrary use of sanctions the global economy in a new digi- logue, which is a global one, fol- was “orderly and prescribed insti- The government budget is ex- of Parliament) Speaker Nurlan has a negative effect not only on tal era – the era of artificial intelli- lowed by the second dialogue at the tutional steps, without threatening pected to record a 0.3 percent sur- Nigmatulin said the forum was the the countries that these sanctions gence,” said Nazarbayev. level of Eurasia to garner the efforts social and political stability.” plus of the gross domestic product largest of the four held so far. The target, but all other countries and Eurasian countries, he noted, of CICA and the OSCE. The third Kazakh President Kassym-Jomart in 2019 that will turn into a deficit number of participants has tripled the well-being of millions of ordi- should avoid politicising interna- dialogue would be in the form of Tokayev won a “landslide vic- in 2020-2021, fostered by lower since the first conference in Mos- nary people across the world,” said tional parliamentarism by exclud- a system-wide economic dialogue tory” in June, said Fitch, and Naz- oil prices and the expansionary cow in 2016. Nazarbayev. ing particular countries from the between the Eurasian Economic arbayev’s policies will be contin- fiscal stance, part of the Kazakh “The meeting of speakers has Parliamentarians, said Naz- dialogue. Union, the European Union, the ued, including the structural reforms government’s policy priorities. become the most representative arbayev, should be more involved “In these conditions, speaking at Shanghai Cooperation Organisa- and the increased social spending. Continued on Page A4 forum of parliamentarians in Eu- in political and policy decisions, the United Nations General Assem- tion and the Association of South- rope and Asia. Nur-Sultan has re- including the ratification of promi- bly in New York, I proposed con- east Asian Nations. Fourth Meeting of Speakers of Eurasian Countries’ Parliaments Kazakhstan to cooperate of Europe and Asia in supporting Republic of Kazakhstan Nursultan for sovereignty, independence, and STATEMENT the activities of regional integra- Nazarbayev to meet the common vital interests; non-interference; re- with Narvik Port in Adopted on September 24, tion associations for the purpose interests of all Eurasian states in nunciation of threats, pressure and 2019 in Nur-Sultan, Kazakhstan of a comprehensive partnership peace, stability and security.
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