Vladimir Putin took part in a meeting of the Supreme Eurasian Economic Council in Armenian capital, Yerevan, presidential web page reports.
Speaking at the Supreme Council meeting in expanded format, he noted that “The Eurasian Economic Union is developing steadily and has created a vast market that is functioning well. Integration processes in the EAEU exert a favorable influence on the participants’ economies and facilitate the rise in the living standards. The aggregate GDP of the EAEU countries also continues to grow, as well as industrial and agricultural production. At the same time, the association is facing new ambitious tasks. Special attention should be paid to systematic efforts to remove barriers in trade in commodities and services in different sectors of the market.”
“The introduction of a common regulation in finances is a priority. Following the current meeting the concept for the formation of the EAEU’s common financial market will be approved to become a roadmap for drafting and approving universal rules for banking and insurance services and transactions with securities. The implementation of measures envisaged by the roadmap will make it easier for people to use financial instruments and will make this segment of the market uniform and transparent,” he said.
“The improvement of union legislation in energy is proceeding at a good pace and agreements on forming a common EAEU electricity market will come into force in the near future,” Putin pointed out. “The common electricity space should be established simultaneously with the formation of the union markets of gas, oil and oil products in 2025. First and foremost, it is necessary to complete the alignment of the member countries’ legislation on the supply and transportation of gas.”
In his view, “EAEU cooperation in the digital economy should be further enhanced. In particular, it is a common interest to launch the standardized job search system Work without Borders as soon as possible. This project will help EAEU citizens find job openings in any of the EAEU countries online.”
“We are also committed to quickly implementing the agreement on the traceability of goods imported into the EAEU customs territory. The Eurasian Economic Commission will be granted additional authority for that,” the President believes. “It is important to ensure transparency in the distribution of goods in the EAEU market; this requires a completely digital exchange of legally valid shipping documents, and the electronic labelling of goods needs to be introduced more comprehensively. The pilot project on labelling a number of goods has proved effective in fighting counterfeit products, and has increased tax revenues.”
“It is important to continue to work on strengthening mutually beneficial economic cooperation between the EAEU and interested foreign partners,” he concluded.