President Nazarbayev delivers speech at Astana Economic Forum 2016

President Nazarbayev delivers speech at Astana Economic Forum 2016

The world needs decisive political steps for global growth. The rapidly changing international agenda has become the main topic at the 9th Astana Economic Forum. Over two days politicians, Nobel Prize Laureates, experts and financiers from around the world were searching the answer to what is the future of the global economy and what to do? The easy life finished when prices for raw material collapsed. The further development of the entire planet depends on the joint actions of countries and, most importantly, their rulers. However, some countries are becoming closed from the international community under the influence of various causes. Trade alliances are being created to replace the WTO; the governments are imposing a veto on the movement of capital and expanding mutual sanctions. The expansion of such trade unions will not result in anything good, the president of Kazakhstan said.

 

Nursultan NAZARBAYEV, PRESIDENT OF KAZAKHSTAN:

Today, we are facing the creation of the Asia-Pacific bloc with the United States, we hear about the talks on the upcoming negotiations and agreements of Europe-America. We are creating the SCO in the Central Asian and Eurasian region. At the meeting in June we will probably consider the question on the admission of India and Pakistan and possibly Iran to the Organization. The population of the SCO will total 3 billion. Three trading blocs are being created. How will the WTO operate? In my opinion, this is a dead end, which in the long term will harm all countries, and will lead to an increase in confrontations around the world in the radical phase.

 

Because resources are short-lived and raw material prices are unstable, it is necessary to invest in human resources the president of Kazakhstan believes. And above all, the international community should pay attention to the poorest countries.

 

Nursultan NAZARBAYEV, PRESIDENT OF KAZAKHSTAN:

To solve this problem, I suggest forming the Human Capital Development Fund under the UN. The Fund will aim to improve the quality of education and healthcare in the poorest countries. According to UNESCO, about $50 billion a year is needed just to provide basic education in these countries.

 

In addition, Nursultan Nazarbayev proposed to introduce a global tax on offshore assets. These funds will be used to help the vulnerable groups of people. According to UNESCO, the poorest countries need $50 billion to provide education. At the same time, offshore accounts store trillions of dollars.

 

Nursultan NAZARBAYEV, PRESIDENT OF KAZAKHSTAN:

Today, according to the assessment of world experts, the offshore accounts keep $340 trillion. The introduction of at least 1% global tax on these assets would bring education and health in developing countries to a new level. The funds from this tax could be accumulated at the above-mentioned Human Capital Development Fund. I think that the IMF, the World Bank would be able to propose effective measures for the global economy deoffshorization.

 

 

 

Photo: akorda.kz