MINSK, 15 August (BelTA) – Cooperation projects could become symbols of the Eurasian Economic Union (EAEU), but their current level does not yet match its potential, Belarusian Prime Minister Aleksandr Turchin said at an expanded-format meeting of the Eurasian Intergovernmental Council in Kyrgyzstan on 15 August, BelTA has learned.
Among the fundamental goals driving the EAEU’s advancement, Aleksandr Turchin singled out industrial cooperation. “We need to deliver tangible results in industrial cooperation. Given the current economic situation, the priority is to establish new production facilities and competencies that will contribute to steady growth not only in industry but also in the economies of the EAEU states as a whole. This is why Belarus has proposed drafting a unified program for cooperation and import substitution. We hope for its support from the EAEU states,” he said.
Among the fundamental goals driving the EAEU’s advancement, Aleksandr Turchin singled out industrial cooperation. “We need to deliver tangible results in industrial cooperation. Given the current economic situation, the priority is to establish new production facilities and competencies that will contribute to steady growth not only in industry but also in the economies of the EAEU states as a whole. This is why Belarus has proposed drafting a unified program for cooperation and import substitution. We hope for its support from the EAEU states,” he said.
Currently, a supranational mechanism for financial support of industrial cooperation projects is being tested. “However, the scale of both ongoing and proposed projects does not match the potential of our integration association. What we need are projects capable of becoming symbols of the Eurasian Economic Union,” the prime minister emphasized.
Notably, despite all contemporary challenges, the EAEU remains a cohesive integration bloc, ensuring steady development for its member states and strengthening the four freedoms – the free movement of goods, services, capital and labor. This year marks the completion of the strategic directions for the development of Eurasian economic integration in 2025. Most of the tasks have been accomplished, but this is true only in general terms. A closer look reveals there are issues that could not have been resolved within five years. These need to be analyzed to prevent future shortcomings. Moreover, next year will see the launch of the Declaration on the Further Development of Economic Processes within the EAEU. During the Eurasian Economic Forum held in Minsk in late June, Belarusian President Aleksandr Lukashenko noted that the EAEU’s formative period is over and it is time to move to a new stage of integration – the construction of EAEU 2.0.
Follow us on:
