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Kazakh president urges focusing on post-crisis development

03 May 2011 21:18 (UTC +04:00)

Baku-APA. Kazakh President Nursultan Nazarbayev on Tuesday called on the international community to focus on post-crisis economic development, APA reports quoting Xinhua.

"Realizing the existing crisis potential and learning lessons from the past, we should start tackling the challenges and long-range objectives of the world economy in the second decade of the 21st century," Nazarbayev said at the Fourth Astana Economic Forum.

The president pointed out that the world economy currently faces major challenges in the financial, industrial innovation and commodity sectors.

"The current financial system does not meet the principles of legitimacy and fairness, impedes growth and hampers resolution to global problems," he said.

Meanwhile, he said that, to achieve industrial innovation, there is "the need for balanced industrial development of economies and fair trade."

In the commodity sector, Nazarbayev said the key is to provide the world with energy and food safety. "It is connected with the first two challenges, but it is felt by every person on the planet, not just companies and governments."

The Astana Economic Forum, established in 2008, focuses on key issues concerning the development of the global economy.