EAEU to stimulate import substitution, industrial localization


Vladimir Putin took part in a videoconference meeting of the Supreme Eurasian Economic Council, presidential web page reports.

“We are going through a difficult period of the pandemic which directly affected our cooperation, the economy and contacts between people and, therefore, created certain problems with implementing our joint agenda,” he said. “We all are interested in ensuring our union’s dynamic development. It has existed for over five years now and brought tangible benefits to all of our states. It has contributed to solving major tasks with regard to developing our national economies and improving the quality of life for our citizens.”

According to Putin, comprehensive objectives are aimed at “completing the development of a common market of goods, services and workforce, improving customs and administrative regulations, developing a digital environment, creating a system of management for joint projects in high performance sectors,” with the ultimate goal being “stimulating import substitution, industrial localization, joint pro-integration initiatives, cooperation between the EAEU member states in research, technology and the humanitarian sphere, launching major joint projects in vocational and university education, training personnel, enhancing academic mobility and implementing multilateral educational programs.”

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