MINSK, 16 April (BelTA) – In pandemic conditions it is vital to prevent ruptures of manufacturing chains and manufacturing cooperation links in the Eurasian Economic Union, BelTA learned from Tatiana Runets, Chairwoman of the Economy, Budget, and Finance Commission of the Council of the Republic of the National Assembly of Belarus.
The senator stressed that further enhancement of integration should become the key condition for reaching a trajectory of steady economic growth and stronger social security for citizens of the Eurasian Economic Union member states. “Taking into account transport and logistics restrictions and higher sanitary and epidemiological requirements in conditions of the pandemic it is of critical importance to prevent ruptures of manufacturing chains between commercial entities of our countries. The necessary legal instruments to achieve the goal are available. They are stipulated by the Eurasian Economic Union Treaty, resolutions of the Board of the Eurasian Economic Commission, and national legislations,” Tatiana Runets noted.
The situation evolving in the world economy proves that mutual trade is vulnerable: new barriers are erected in the period of the crisis and the forced closure of borders. “This is why it is becoming of particular importance to set up joint ventures, which are recognized as the main link of integration projects and of the innovative global economy all over the world. Full support for the joint ventures on the part of regional financial institutions such as the Eurasian Fund for Stabilization and Development and the Eurasian Development Bank will bolster their competitive ability both on the market of the Eurasian Economic Union and outside it,” the senator is convinced.
The establishment of joint ventures in parallel with the creation of common markets of capital, merchandise, services, and workforce will make the integration process steadier and irreversible, she added.
