Eurasian Economic Union PMs discuss elimination of barriers to mutual trade

NUR-SULTAN (TCA) — Prime Minister of Kazakhstan Askar Mamin took part in the meeting of the Eurasian Intergovernmental Council in Yerevan (Armenia) on April 30. The meeting was also attended by the prime ministers of the Russian Federation Dmitry Medvedev, Belarus — Syarhey Rumas, Armenia — Nikol Pashinyan, Kyrgyzstan — Mukhammedkalyi Abylgaziev, and Chairman of the Board of the Eurasian Economic Commission (the governing body of the Eurasian Economic Union) Tigran Sargsyan, the official website of the Prime Minister of Kazakhstan reported.

The agenda of the meeting of the Intergovernmental Council considered 13 issues on trade and economic cooperation and expansion of mutual trade between the member states of the Eurasian Economic Union, including the elimination of existing barriers within the internal market of the EEU.

The heads of government discussed improving the regulation of foreign economic activity on the principle of “single window,” creating conditions for the development of a digital trading ecosystem in the EEU, the development of industrial cooperation and technology transfer, further enhancing the integration potential in certain sectors of the economy.

The parties noted the positive dynamics of key socio-economic indicators of the EEU in 2018. GDP growth in the member countries was 2.5%, industrial production — 3.1%. Over the past year, the volume of mutual trade in the EEU increased by 9.2%, a similar trend is observed in foreign trade, where growth for the year amounted to 18.8%.

Prime Minister of Kazakhstan Askar Mamin noted in his speech that today, the member countries are actively working together to eliminate barriers to mutual trade. Practice shows that new obstacles are being identified, which, in turn, is an indicator of the development of closer economic relations.

“We need to keep up the pace,” said Mamin, “removing existing barriers will increase mutual trade and expand economic ties between countries.”

The Kazakh side focused on the need to improve the regulation of integration in the labeling of goods by identification within the EEU, the introduction of a transit traffic traceability system, the strengthening of customs administration, the development of digital trade, and an increase in the transit potential of the union in data transit.

Following the meeting, a number of documents were signed on the implementation of the Eurasian Industrial Cooperation, Subcontracting and Technology Transfer Network project, on progress in eliminating obstacles to the functioning of the union’s internal market, and on creating conditions for the development of a digital trading ecosystem in the EEU.

The next meeting of the Eurasian Intergovernmental Council will be held on August 9, 2019, in Cholpon-Ata (Kyrgyzstan).

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