ASTANA, October 1. /TASS/. Kazakhstan’s lower house of parliament, Majilis, on Wednesday approved a draft law “On Ratification of Eurasian Economic Union Treaty”.

“The document is of the utmost importance for Kazakhstan because it determines the basis of the state’s economic policy for many years ahead,” Minister of Economy Erbolat Dosayev said.

“Amid the slowdown in global economic growth, Kazakhstan will create a base in the Eurasian Economic Union for economic diversification, increasing labor productivity and entering the group of 30 world’s most competitive countries,” he said.

Eurasian integration’s economic potential is very high. The total volume of economy exceeds $2 trillion. The total volume of industrial output in three countries reaches $1.5 trillion.