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24 May 2023, 16:33

Call on EAEU states to set up industrial union

MOSCOW, 24 May (BelTA) – Belarusian Deputy Prime Minister Igor Petrishenko called on the member states of the Eurasian Economic Union (EAEU) to set up an industrial union as he spoke at the 2nd Eurasian Economic Forum in Moscow on 24 May, BelTA has learned.

According to the deputy prime minister, the EAEU countries continue to compete with each other and to set up duplicate productions in the industrial sector. “In our opinion, it is very important to complement each other, to develop new value added chains, import-substituting production and to ensure technological sovereignty of our union,” he stressed.

Igor Petrishenko reminded those in presence that the EAEU was launching a mechanism for financing cooperative projects in the industrial sectors. “I believe this is our chance to deepen integration in this area and create a success story, so that by 2030 we could reach a time-tested and effective mechanism of financial support for joint cooperative projects,” the deputy prime minister stressed.

“We will take a very important step away from the transition from our trade agreement, which in most cases the Treaty on the EAEU is, to a full-fledged economic and industrial union. An important element here is also a coordinated industrial policy, which should manage this whole process in a reasonable way,” Igor Petrishenko added.

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