MOSCOW, 28 May (BelTA) – Eurasian Economic Union member states will step up cooperation in aircraft production. They will create new manufacturing chains and an added value in the union. Member of the Board (Minister) for Industry and Agribusiness of the Eurasian Economic Commission Artak Kamalyan made the statement at a session of the Advisory Committee for Industry of the Eurasian Economic Commission, BelTA has learned.
According to the source, plans have been made to also set up a commission on import substitution in high-tech branches of the manufacturing sector. All the countries of the union have confirmed the importance of manufacturing cooperation in aircraft production and have expressed readiness to continue work in this sphere.
Artak Kamalyan noted Russia had already sent its proposals on manufacturing cooperation to partners. In particular, Russia suggests starting semi-knocked down assembly of aircraft in the territory of the member states, localizing assembly and aftersales service of aircraft using the United Aircraft Corporation. According to Artak Kamalyan, the Eurasian Economic Union's aviation industry has a large potential for further growth and for reinforcing positions on the home market and the world market. It is necessary to fully explore this potential.
Participants of the session discussed a review of the largest investment projects for industrial construction in the Eurasian Economic Union member states in 2020-2025. The document includes about 400 major investment projects in the processing industry and the mining industry with the investments totaling RUB9.5 trillion. The information will allow finding investors, suppliers, and contractors, raising direct investments and debt investments, including with assistance of national and international financial institutions, detecting long-term needs for construction resources, equipment, and the application of technologies.
Artak Kamalyan noted: “We expect a 1.5-time increase in mutual investments in the Eurasian Economic Union in the next few years. In order to reach these figures we have to digitize and collect investment projects of our countries into a single database and offer comprehensive measures to support their realization.”
Participants of the session also approved a draft report on promising avenues of industrial cooperation with new trade and economic partners of the Eurasian Economic Union. This document contains results of a complex analysis of the potential of the Eurasian Economic Union's processing industry's market, including the level of manufacturing cooperation with new trade and economic partners. The importance of the matter is determined by the necessity of looking into the advisability of signing free trade agreements with new trade partners of the Eurasian Economic Union.
Participants of the session also approved draft recommendations of the Board of the Eurasian Economic Commission on advancing cooperation of the Eurasian Economic Union member states in the sphere of production of industrial products for railway transport. The document contains a set of measures the union states are supposed to implement in order to resolve the main problems of this industry.
