Economic Development Maxim Reshetnikov
Maxim Reshetnikov: The
Board of the Eurasian Economic Сommission has
held a meeting, where a highly important package of measures, drafted by a
high-level working group, was discussed. The group includes representatives of
the economic ministries, central banks, and finance ministries of all EAEU
countries. This is a large package of priority measures designed to stabilise
the current situation. It includes 33 measures intended to implement customs regulation,
stabilise financial markets and mutual payments, and streamline the EAEU’s
systemic development.
It was
a large-scale effort that we assiduously pursued over the last two weeks. Why it is important to ensure this type of synchronisation
and integration at the EAEU level? Here
are a few points.
First,
trade with the EAEU countries amounts to practically 15% of our countries’
total trade. Second, the volume of trade grows from year to year, and has increased
by more than a third on 2020. But even if we deduct the reduction owing to Covid-19
in 2020, the volume has grown by 17% in comparison with 2019 levels. I mean we understand that this mutual trade
creates jobs in our countries and makes it possible for us to maintain
cooperation. This is why it is so important to retain the EAEU’s unified, primarily
trade-related, space under these difficult circumstances. Moreover, all decisions
related to import rates, import duties, import benefits, quotas, etc., have
been handed over to the EAEU. This means that the total quantity of goods
brought to our unified customs territory proceeds under unified rules, unified
certificates, and so on.
This is
why it has been highly important to synchronise these issues in a period when countries,
primarily Russia and Belarus, are facing sanctions, logistical problems, and import
restrictions. The plan that has been
devised does synchronise these issues. More than that, the plan is already
being implemented and a number crucial problems were solved at yesterday’s
Board meeting.
More to be posted soon.
