Kazakhstan President Nursultan Nazarbayev announced in a surprise televised address to be stepping down. He has ruled for 30 long years.
Without giving any specific reason of terminating his rule the 78-year-old assured there will be a successful transition power to a new generation.
The president added, “It was an honor for me to serve the people… I have worked hard to fulfill the nation’s will.”
He further said upper house speaker Kassym-Jomart Tokayev will work as head of the state until transition is completed following next presidential election.
Tokayev was earlier prime minister and foreign minister of kazakhstan. Between 2011 and 2013 he served as director-general of United Natiohns office too in Geneva.
Even though Nazarbeyev is stepping down, he holds good political influence in the country as leader of ruling Nur Otan party and chairman of the Security Council.
In the 1990s Nazarbayev won uncontested presidential elections and then said, “I will serve you until the end of my days.”
In 2005 he spearheaded oil deals with Chinese government. He inaugurated a 620-mile oil pipeline between Kazakhstan and western China.
Kazakhstan has extensive oil reserves and this gives strategic and economic advantage to the company.
Kazakhstan is home to about 18 million people and has massive landmass of 1 million square miles.
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