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Sargsyan: Proposals to amend EAEU Treaty ready, harmonized

Politics 22.12.2017 | 15:47

MOSCOW, 22 December (BelTA) - The first package of amendments to the Eurasian Economic Union (EAEU) Treaty has already been drafted and harmonized by the union's member states, Chairman of the Board of the Eurasian Economic Commission (EEC) Tigran Sargsyan said in an interview with BelTA.

In his view, the time has come to amend the treaty. “The last three years have shown the bottlenecks, the pros and cons of the documents which constitute the legal framework of the EAEU,” Tigran Sargsyan stated. “Moreover, in my opinion, we must work on the treaty on a continuous basis. We live in a rapidly changing world, and those changes that are happening around us, that are affecting the economic doctrine and the paradigm of the modern economy should not go unnoticed. We must respond to these challenges, including the global ones. This means that we must revisit the treaty all the time and improve it,” he noted.

Tigran Sargsyan informed that the Eurasian Economic Commission has set up an ad hoc group that has prepared and harmonized with the member states the proposals to amend the treaty.

As an example, Tigran Sargsyan recalled that the EAEU Treaty is silent on the digital economy, the digital transformation. “It is clear that we need to have a common digital agenda. Otherwise new obstacles and barriers may appear on the common market. The modern markets are quickly digitizing. They all work in the digital logic, in the logic of inter-sectoral digital platforms. We also need to evolve quickly to make sure the union matches the pace of transformation that we see in other countries and stays competitive in the foreign markets,” Tigran Sargsyan noted.

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