ArmInfo.The Eurasian Economic Union is developing steadily; a voluminous common market has been created, which is successfully functioning. Russian President Vladimir Putin said this on October 1 in Yerevan at a meeting of the Supreme Eurasian Economic Council in an expanded format.
During his speech, the Russian leader emphasized that he agreed with positive assessments of the work of the Eurasian Economic Union. "The integration processes within the Eurasian Union have the most favorable effect on the growth of the economies of the participating countries, contribute to improving the living standards of our citizens. I note that the aggregate GDP of the EAEU states continues to increase, industrial and agricultural production is increasing. At the same time, our association is facing new large- scale tasks. In this case, in our opinion, special attention should be paid to systematic work to remove barriers to trade in goods and services, and in various sectors of the market, "the Russian leader said, adding that the adoption of all-Union regulation in the financial sphere is among the priorities, as well the concept of forming a common financial market of the union. According to Putin, this document will become a "road map" for the development and approval of universal rules for the provision of banking and insurance services, operations with securities. The head of Russia stated that the implementation of the measures provided by the road map will simplify the access of citizens of our countries to financial instruments and make this market segment unified and transparent.
"The process of improving union legislation in the energy sector is also proceeding at a good pace. We expect that agreements will soon come into force to form a single EAEU electricity market. A common electricity space should be formed simultaneously with the creation of union markets for gas, oil and oil products in 2025 First of all, it is necessary to complete the process of unification of the laws of the member states in the field of gas supply and transportation. Of course, the cooperation of the Union states in the digital economy should be further enhanced. In particular, the common interest is the early launch of the standardized job search system <Work without Borders>. The implementation of this project will allow citizens of our countries to learn on the Internet about free jobs in all states of the union, "Putin said.
We attach great importance to the speedy implementation of the agreement on the traceability of goods imported into the customs territory of the EAEU, the Russian leader continued, noting that the Eurasian Economic Commission, according to today's decision, will receive corresponding additional powers.
He also pointed out the importance of ensuring transparency in the circulation of products in the Union market. "Therefore, it is necessary to establish a full exchange of legally significant electronic accompanying goods documents, as well as more vigorously introduce electronic labeling of goods. By the way, a pilot project on labeling a number of goods confirmed the effectiveness of this measure in the fight against counterfeit products, increased tax revenues," the Russian president said.
Putin, pointing out the importance of continuing to work to strengthen the EAEU's mutually beneficial economic cooperation with interested foreign partners, welcomed the participation in the meeting of Moldovan President Igor Dodon, Iranian President Hassan Rouhani, and Singaporean Prime Minister Lee Hsien Loong. "I emphasize that the agreement on a free trade zone with Singapore, signed today in the presence of Mr. Lee Hsien Loong will create favorable conditions for increasing countertop export-import operations and deepening cooperation in various fields. More recently, I had the pleasure of being at the invitation of the government in Singapore I must say and confirm that, of course, Singapore is a reliable, stable partner with a fast-growing economy and good administrative regulation. We also expect that at the end of October an interim agreement will come into force, leading to the formation of a free trade zone between the Eurasian Economic Community and Iran. Its implementation will lead to a significant reduction in import tariffs, the abolition of other restrictions that impede the movement of goods flows. All this will undoubtedly contribute to the growth of mutual trade and investment, "Putin said, noting that in general, the geography of the Union's contacts is constantly expanding.
The Russian leader informed that the association is conducting substantive negotiations on cooperation with 13 countries and more than 20 international structures and organizations. "This is both Serbia and Israel, Egypt. Soon, similar negotiations will begin on a free trade zone with India with its colossal, huge market. A fast-growing economy, today it is the world's number one pace. In conjunction with the Russia- Africa summit (I want to inform you about this, dear colleagues, the Russia-Africa summit will be held for the first time on October 23-24) The Eurasian Economic Commission intends to sign a memorandum of understanding with the African Union Commission aimed at developing multilateral cooperation <five > with countries of the African continent. The EAEU has long and fruitfully expanded cooperation with the dynamic economies of the Asia-Pacific region. It is necessary to further establish close ties between the Eurasian Union and the Shanghai Cooperation Organization and ASEAN, work in favor of a large Eurasian partnership, "the Russian leader noted, pointing out also on a special role in this context, the trade and economic relations of the Eurasian Economic Union with China, which today marks a big holiday, the 70th anniversary of the founding of the Chinese native republic.
In this context, Putin congratulated Chinese friends on this occasion. "We are convinced that the early entry into force of a cooperation agreement with the PRC will be a step towards linking integration processes within the EAEU with the Chinese One Belt One Road initiative, "Putin concluded, thanking Armenia for organizing the event.