Medvedev: need more work to remove barriers to common markets in the EEU

ECONOMY

SAINT PETERSBURG, July 27. /Basereporter.com/. The establishment of common markets of oil and gas in the Eurasian economic Union (EEU) will require additional work to remove existing impediments. This was stated by Prime Minister Dmitry Medvedev at the meeting in expanded structure of the Eurasian intergovernmental Council.

According to him, the meeting discussed in detail the formation of common markets of oil and oil products, and natural gas. “We need to provide for business, non-discriminatory and transparent conditions, in General we will have to do extra work to remove the obstacles that hinder the establishment of common markets of the EurAsEC,” Medvedev said, noting that the Prime Ministers agreed at a meeting in narrow format.

“We formed an expert group on elimination of barriers, it included representatives of the business communities of our countries, their experience and professionalism here will be in demand”, – said Medvedev.

He called generally good progress in this field, Recalling that at the beginning of this year an agreement was signed on the marking of goods means of identification. “We hope that soon in the States-participants will take all the necessary procedures to have the document entered into force already this year”, – said the Prime Minister.

Medvedev said that in Russia before the end of the year it is planned to create a system that will cover the entire cycle from the release of goods by customs prior to their sale at retail. “Offer in the shortest time possible to extend this mechanism to the whole Union, the benefits are obvious: establishing effective state control, consumer protection and creation of favorable conditions for doing business”, – said the head of the Russian government.

Response to trade restrictions

Medvedev also noted that the EEU countries should be prepared to take collective steps, if necessary, to defend their economic and trade interests on the world stage.

In his words, “the relevant issue is the search for an adequate response to any kind of trade restrictions that are introduced by foreign partners.” He noted that security is a national responsibility. “But, nevertheless, it is important and collective steps to determine if we need to defend our common economic and trade interests, said the Prime Minister. – And this is not possible, and the experience of the last period, all sorts of disputes that go to various regions with the participation of different countries and unions of countries, this directly proves”.

At the same time Medvedev stressed that the EEU is open to cooperation with foreign partners, which should be beneficial for all participants. He called important event the end of may of the current year interim agreement on free trade zone with the EAEU Iran, and a cooperation agreement with China. The Prime Minister expects that States parties will promptly undertake the procedures necessary for the entry of these decisions into force.

He also reminded that the Supreme Eurasian economic Council [and presidents] approved the regulations on the status of observer in the EAEC, and such status was granted to Moldova. “We sincerely welcome the desire to develop mutually beneficial cooperation with the countries of the Union. And if to talk about Moldovan representative, then it can be sent in order to start a dialogue with the Eurasian economic Commission”, – said the Prime Minister.

Turnover in the EEU

The Prime Minister stressed that trade in the EEU continues to grow and becomes more balanced.

“Eurasian “five” is successful, gradually revealing their possibilities,” – said Medvedev, noting that in the first quarter of 2018 and that, internal trade turnover of the countries of the Union, and the foreign trade turnover continued to increase – by 16.4% and 24%, respectively, and the States parties increased the supply of the common market of the Union not only raw materials, but also many other products.

“All this suggests that intra-Union trade flows become more balanced, and the manufacturing industry and agriculture of our countries have new opportunities to expand production and create jobs,” – said Medvedev.

According to him, the EAEU member States intend to solve by the heads of States of the five the task to provide economic growth not below 2% and maintain low inflation.

The EEU is an international integration economic Union, which includes Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan. The intergovernmental Council ensures the implementation and monitoring of the performance of the Agreement on the establishment of the Union and the decisions of the Supreme Eurasian economic Council (at the presidential level). In 2018 in the Union bodies, including the intergovernmental Council, chaired by Russia. In 2019 the presidency will go to Armenia.

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