MINSK, 26 November (BelTA) – The operation of free economic zones in the Eurasian Economic Union (EEU) will be regulated taking into account the interests of all member states, Sergei Sidorsky, Member of the Board (Minister) for Industry and Agribusiness of the Eurasian Economic Commission (EEC), told journalists before the first session of the Presidium of the EEU Business Council on 26 November, BelTA has learned.
According to the EEU Treaty, the current regulations governing the operation of free economic zones will expire in 2017. “We are interested in boosting the economy of the union, fine-tuning its industrial policy. At present we are studying the operation of free economic zones. The interests of Belarus, Kazakhstan, Russia, Armenia, and Kyrgyzstan will be taken into consideration in order to set our policy in the right direction,” Sergei Sidorsky noted.
“This is a common matter that will be discussed by the Board,” he added.
As for the automotive industry, Sergei Sidorsky stressed that each EEU member state has some problems. “We will be analyzing not just the automotive sector, but the whole range of manufacturing activities conducted in the free economic zones, how they compete,” he said.
Russian media reported earlier that Russia and Kazakhstan suggested removing the exclusive export preferences for foreign automobile manufacturers that have assembly plants in the EEU.
