MOSCOW, May 25. /TASS/. The Eurasian Economic Union (EAEU) has demonstrated its efficiency in both calm and crisis situations, President of Kazakhstan Kassym-Jomart Tokayev said during a meeting of the Supreme Eurasian Economic Council on Thursday.

"I believe the Eurasian Economic Union has demonstrated its efficiency in both calm and crisis situations. It is critical to consistently and systematically implement its enormous potential for the benefit of our countries," he remarked.

Tokayev emphasized that economic integration in the key element of achieving national economic progress and people’s well-being. "The success or failure of integration efforts will be measured very simply - business and people should feel that they work and live better because of the union's work," he said. "Kazakhstan's vision for the development of the Union includes a consistent increase in the economic potential of our countries, that is, projects, technologies, jobs, taxes," Tokayev added.

According to him, the authorities of Kazakhstan are ready to create conditions for the development of the country as a center of Eurasian industrial cooperation. "Kazakhstan, given its geography and capabilities, is ready to operate as a center for the growth of Eurasian industrial cooperation in the current geopolitical environment. It could include joint ventures for manufacturing electric vehicles, mainline locomotives, railcars, agricultural and passenger vehicles, construction materials, and chemical products," he said.

"We are also prepared to implement joint projects for the development of ferrous and nonferrous metal deposits, as well as further processing and production of finished products. I would like to emphasize our successful cooperation in these areas with the Russian Federation," Tokayev stated.