Nazarbaev suggests introduction of common payment unit within EurAsEC

Kazakh President Nursultan Nazarbaev has proposed the introduction of a common payment unit within the Eurasian Economic Community (EurAsEC). “The integration association (EurAsEC) could introduce its own common supranational cashless payment unit. Its exchange rate should not depend on fluctuations of world currencies,” Nazarbaev said at the 2nd Astana Economic Forum dealing with Eurasia”s economic […]

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Interfax

12.03.2009 10:24

Kazakh President Nursultan Nazarbaev has proposed the introduction of a common payment unit within the Eurasian Economic Community (EurAsEC).

“The integration association (EurAsEC) could introduce its own common supranational cashless payment unit.

Its exchange rate should not depend on fluctuations of world currencies,” Nazarbaev said at the 2nd Astana Economic Forum dealing with Eurasia”s economic security amid global risks on Wednesday.

This payment unit “could be called Euras or Eurasia,” Nazarbaev said.

EurAsEC includes Belarus, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan.