EEU countries hold summit, address pressing issues

BISHKEK (TCA) — A summit of leaders of the Eurasian Economic Union (EEU) member countries — Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia — took place on October 1 in the Armenian capital, Yerevan.

The meeting aimed at building closer economic ties between the EEU member states and nonmember countries, as it was also attended by President of Moldova Igor Dodon as head of an observer state to the EEU, as well as guests of honor — President of the Islamic Republic of Iran Hassan Rouhani and Prime Minister of Singapore Lee Hsien Loong.

In his speech, Kazakhstan President Kassym-Jomart Tokayev expressed confidence that the Eurasian Economic Union has become one of the important links in the development of world trade, his press service reported.

The President of Kazakhstan stressed that the rapidly changing market conditions, growing competition between the world powers, trade wars, growth of protectionism lead to instability of the world economy.

“In difficult global conditions it is extremely important for us to support sustainable economic growth of our states. It is possible only through real and mutually beneficial cooperation, integration and cooperation. Our countries should continue to remove barriers in the common domestic market,” Tokayev underscored.

Noting the results achieved in the transport and logistics cooperation of the Eurasian Economic Union, Tokayev proposed to accelerate the development of a single transit system of the EEU, as well as to create attractive conditions for the development of advanced technologies.

“There is a steady increase in the volume of export-import and transit operations along China-Europe-China route. Transcontinental railway route Vietnam-China-Kazakhstan-Europe has been launched, and it solves logistics issues for the promotion of our products to the ASEAN countries’ markets. This transport corridor will be a good alternative to sea transportation and will allow deliver goods from Southeast Asia to Europe through the territory of the EEU member states in the shortest possible time,” the Kazakh president stressed.

Speaking at the summit, Belarus President Aleksandr Lukashenko said that it is necessary to pay more attention to far-arc countries for the sake of expanding the international agenda of the Eurasian Economic Union, BelTA news agency reported.

“The Eurasian Economic Commission [the EEU’s governing body – edit.] should work out a similar agreement with the European Union in order to make transportation by land from China to Europe via our countries the most attractive route,” Lukashenko said.

Kyrgyzstan President Sooronbai Jeenbekov also spoke for removing the existing barriers to trade between the EEU member states, 24.kg news agency reported.

“Countries of integration associations get benefits by reducing the cost of production, increasing the speed and volume of transportation of goods. In reality, we argue among ourselves. Our governments must take measures to remove obstacles in the domestic market. If we do not eliminate them, our Union may not achieve its goals,” the Kyrgyz president said.

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