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Call to eliminate barriers in EAEU market as soon as possible

Economy 18.07.2019 | 14:22

MOSCOW, 18 July (BelTA) - Barriers in the internal market of the Eurasian Economic Union (EAEU) should be eliminated as soon as possible, Member of the Board (Minister) for Industry and Agribusiness Complex of the Eurasian Economic Commission (EEC) Aleksandr Subbotin said at the meeting of the national business councils held in St. Petersburg on the sidelines of the 6th Forum of Regions of Belarus and Russia, BelTA learned from the EEC press service.

Aleksandr Subbotin noted that building a common barrier-free economic space is high on the EEC agenda. Barriers to mutual trade increase costs for business. They are against the interests of not only business but also the EAEU member states. “Barriers in the internal market of the union should be eliminated as soon as possible, and new barriers should not emerge,” he said.

He also noted that promoting cooperation between enterprises remains the most important area of development of integration in the Eurasian Economic Union. Thanks to active involvement of business, the union manages to reach agreed decisions on the development of metallurgy, machine building, light industry and agriculture. “The situation in global industrial markets is such that it is only very large companies that can compete in them. To ensure that the union should take its place in this system, we need our big business, we need Eurasian corporations,” Aleksandr Subbotin said.

The EEC is developing a Eurasian network for industrial cooperation, subcontracting and technology transfer. This will help the EAEU member states to ensure balanced utilization of enterprises and overflow of technologies. According to the minister, the intensification of joint efforts with the EAEU business community will contribute to new innovative sectors in the economy of the union and will help industrial complexes on their way to new technological paradigms.

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