Revival of Silk Road is key condition for development of entire region - Nazarbayev

President Nazarbayev took the floor during the first plenary session under the theme Promoting Financial and Economic Cooperation through Enhanced Europe-Asia Connectivity. The Kazakh leader stressed that it is high time to change the paradigm of international cooperation, liquidate protectionist barriers, open markets and step up mutual trade. Transformation of global financial architecture, overcoming imbalances in the financial sector and shaping up effective model of regulation of international capital movement were mentioned as ways to surmount the crisis in the region. Nursultan Nazarbayev also pointed out the need to create new financial bridges noting that the Almaty regional financial center boasts high potential in this respect. According to the Kazakh President, strengthening of the transport and transit infrastructure, for instance, the revival of the Great Silk Road, is one of the key condition for development of the entire region. Nazarbayev also underscored the importance of access to modern technologies and energy resources. Being a stable energy supplier to Europe and Asia, Kazakhstan takes steps in order to diversify its energy routes. Formation of the continent-wide infrastructure with the Eurasian Economic Union at the very heart of it is of paramount importance for stable development of the region.