W. Musavir:
NUR-SULTAN. The XII Astana Economic Forum (AEF), themed “Inspiring growth: people, cities, economies”, started in Nur-Sultan, the capital of Kazakhstan. The first President of the Country, Nursultan Nazarbayev kicked off the Forum.
“Our regular meetings became a good tradition. I initiated convening such a forum in 2008. I really appreciate the great atmosphere maintained here. It became the regular event. And today it is the 12th forum. Every year we discuss the pressing global and regional issues, the strategic issues which will influence the development in the near future. Over the past years we debated a wide range of issues, including G-Global projects, environmental problems, war on poverty, development of human capital, new energy. Last year we held the Global Challenges Summit. Two anti-crisis conferences were held as part of the forum with support of the UN GA. The recommendations and conclusions debated there largely helped Kazakhstan timely address global challenges, successfully overcome difficulties, our thoughts. You know that our development model has proved its sustainability and efficiency despite all circumstances and forecasts,” Nursultan Nazarbayev said at the plenary session of the XII Astana Economic Forum.
He added that, “I highly appreciate confidence of our partners, countries, friendly investors who had trusted and trust Kazakhstan today. I think that such pragmatic optimism is a key exponent of confidence in political and economic system of Kazakhstan. Our country has become one of the respected members of the world community. For the years of independence, the country’s economy grew 20 times, the poverty reduced from 40% to 3%. We will further intensify our efforts in this direction,” the Leader of the Nation said addressing the XII Astana Economic Forum.”
“We continue our work on joining the top 30 most developed countries of the world. We adopted 2050 development strategy. All our strategies and programs are aimed at one purpose the whole country work upon,” Nazarbayev said.
“The global economy, by various estimates, will lose no less than 0.7%-0.8% of growth. Against this background the world propels into the period of global socioeconomic and technological transformation. It brings the nations both challenges and opportunities. I would like to share my vision what shape the world will take in the near future,” First President of Kazakhstan-Leader of the Nation Nursultan Nazarbayev told opening the forum. As the Leader of the Nation noted, increase in population ceases being key to growth in national economies. “Labour efficiency becomes the key driver. For the past 50 years just the third part of the annual GDP growth in the developed countries was provided by the natural population increase. International experts are confident that countries which able to drastically rise this exponent will be competitive in this century. The same time, currently potential for gain in productivity may account for no less than 2% a year over the next decade,”Nursultan Nazarbayev stressed.
The Forum began with a plenary session at the Congress Center. Yelbasy Nursultan Nazarbayev and President of Kazakhstan Kassym-Jomart Tokayev took part in the forum. 5,492 registered delegates from 74 countries, including experts, politicians, businesspeople, and scientists, attended the Forum. According to the organizers, AEF-2019 has received significant interest from foreign and domestic media, with 710 representatives from 30 countries participated in the event.
Foreign guests participating in the forum are Christine Lagarde, Managing Director of the International Monetary Fund, Han Zheng, Vice-Premier of the State Council of China,Armen Sarkissian, President of Armenia, Risto Siilasmaa, Chairman of the Board of Directors of Nokia Corporation, Paul Romer, Chief Economist of the World Bank (2016-2018), Nobel Prize in Economics 2018, to name but a few.
First President of Kazakhstan-Leader of the Nation Nursultan Nazarbayev urged the leaders of the world powers to move beyond nonproductive regime to a direct dialogue, Kazinform reports. “It is crucial to pass from the nonproductive regime of sanctions to a direct dialogue between the leaders of the key powers which shape the future of the entire world,” Nursultan Nazarbayev told opening the forum. The Leader of the Nation stressed that it is high time to debate the ways out of the exiting geopolitical crisis between the representatives of the US, China, Russia and EU.
Christine Lagarde said, “Two years ago, 75 percent of the global economy experienced an upswing. This year, we expect 70 percent to experience a slowdown in growth. The loss of global growth momentum in the second half of 2018 reflected in large part trade tensions and tightening financial conditions. Yet, over the next six months, we expect the global economy to rebound. So, you can see what I mean by a delicate moment. The next steps we take together will be critical in putting us on the right path. This region will play a key role.”
She added that the we need inclusive and sustainable growth that lifts up the prospects of women, young people, the poor, and those who live in rural areas, and that raises the expectations of future generations. New IMF research, released today, focuses on achieving precisely this kind of inclusive growth in the region.”
She said that, “women and other under-represented groups can be empowered by continuing to eliminate legal and economic barriers. I am pleased to say that through the hard work of the government and private companies female labor force participation in Kazakhstan is now at 65%2— the highest in the region and a benchmark for every country in Central Asia. If Central Asia can harness the power of fintech, as emerging economies in other regions have done, the potential gains for the poor, women, and young people are significant.
Concluding she said that, If we all embrace that spirit, we can generate economic growth, raise living standards, and provide new chances for millions.
Over the period of eleven years, the Astana Economic Forum (AEF) has gained the status of one of the most powerful international platforms to discuss the matters of improving and developing the global economy and financial system. Around 50,000 delegates from 150 countries, including more than 20 Nobel laureates and 30 foreign high-level politicians, have visited the forum.
More than 300 memorandums and agreements totaling over $20 billion were concluded within the framework of the Forum. The AEF subject matters are updated every year and cover a wide range of global development challenges and tasks, also setting points for a vast field of discussions.
Using the slogan “Inspiring growth: people, cities, economies”, the Astana Economic Forum describes itself as one of the annual business highlights in Eurasia. The event examines the rapid changes in the industry 4.0 era, and how the “new technological pattern dramatically changes the way we work, exercise our civil rights, and bring up our children.”
The Astana Economic Forum’s topics are changed annually and cover a wide range of challenges, principally covering themes on the economy, technology, the social sector, and consumption.