MOSCOW, 12 February (BelTA) – The Eurasian Economic Commission (EEC) and the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) signed a memorandum of understanding on 12 February, BelTA learned from the EEC press service.
“The memorandum is meant to expand cooperation between the EEC and the EAG. It enables the organizations to tap into each other's potential and exchange experience. The document provides for holding consultations to discuss new international documents of the Eurasian Economic Union. Specialists of the EEC and the EAG will also join efforts to conduct typological and other types of research,” the press service explained.
The memorandum was signed by Member of the EEC Board (Minister) for Economy and Financial Policy Timur Zhaksylykov and EAG Chairman, Director of Russia's Federal Financial Monitoring Service Yury Chikhanchin. “We have cooperated with the EAG since 2016. However, modern tendencies in the global economy, challenges and threats that stem from the development of new technologies, the need to protect financial systems of the EAEU member states, and advancing integration processes have made the previous forms of cooperation between the EEC and the EAG insufficient,” Timur Zhaksylykov noted.
The EAG is a regional group that helps the countries of the region create proper legal and institutional frameworks for combating money laundering and terrorism financing. The EAG evaluates its member states' national systems in this field, studies methods of money laundering and terrorism financing, and implements technical assistance programs for the member states.
The EAG brings together nine countries, including Belarus, Kazakhstan, Kyrgyzstan, and Russia. Armenia has been granted the observer status.
