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EAEU may adopt single currency in the future, says Kyrgyz president

The countries of the Eurasian Economic Union may abandon in the future border procedures on inner frontiers and adopt a single currency by analogy with the legislation of the EU

MOSCOW, December 3. /TASS/. The countries of the Eurasian Economic Union (EAEU) may abandon in the future border procedures on inner frontiers and adopt a single currency by analogy with the legislation of the European Union, Kyrgyz President Sooronbay Jeenbekov told Rossiya-24 television on Monday.

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"I strongly believe in the future of the EAEU, we have tremendous potentials. The EU has a single currency, and of course we will also come to this, but time is needed. We must introduce the best what the European Union has, we are not against this, but for this the business community must agree, we must work towards that," the Kyrgyz president said in reply to the question about the future of the EAEU.

"Like in the European Union we have no borders, no border guards. All our nationals are freely traveling across the Union and are entitled to the services, no matter which - medical, educational, so that each national of each country could get the same conditions that the citizens of Belarus, Kyrgyzstan or Russia have," he added.

According to him, the EAEU member countries should work towards boosting competition with third countries. "The EAEU countries can compete with other foreign nations. We must work in coordination in this issue," Jeenbekov said. "I believe that in 2040, the economy of our countries will be the same as in the European Union, the US, Japan and in other leading nations," he went on to say.

In reply to the question about prospects for the development of the EAEU, the Kyrgyz president said it should also develop through admitting new members. "Other countries can also join the EAEU, we can expand, and we must work towards this as well," he stressed.

The European Economic Union is a political and economic union of Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan, launched on January 1, 2015.

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