MOSCOW, 22 March (BelTA) – A list of measures designed to improve the stability of economies of the Eurasian Economic Union member states in conditions of external pressure has been adopted and includes 34 top-priority measures. Chairman of the Board of the Eurasian Economic Commission Mikhail Myasnikovich made the statement in a speech addressed to professors and students of the Russian Ministry of Foreign Affairs' MGIMO University on 22 March, BelTA has learned.
Mikhail Myasnikovich said: “The Eurasian Economic Union is ready to endure the unprecedented challenges of today. We have something to offer to the member states and to steady foreign partners. However, the Eurasian Economic Union does not make the current situation simpler. This is why real measures are being taken. In order to promptly respond and ensure the stability of the economic situation the Eurasian Economic Commission together with ministries of economy and finance and the central banks of the Eurasian Economic Union countries has prepared a list of top-priority measures designed to beef up the resilience of economies of the EAEU member states. This document was approved by the governments of our countries at a session of the Council of the Eurasian Economic Commission on 17 March.”
The list includes 34 measures subdivided into four major blocks. The first one focuses on customs regulation, customs and tariff regulation, and non-tariff regulation. Protective measures are also part of the block and include reduction of import duties and provision of preferential duties on critical imports, the adoption of unified non-tariff regulation measures with regard to individual exports for the sake of preserving the integrity of the domestic market of the Eurasian Economic Union, the adoption of measures to reduce the time needed for customs formalities and simplify customs formalities.
The second block of measures focuses on the domestic market and manufacturing cooperation: formation of new logistic chains, enabling of conditions for unhindered travels of citizens within the framework of the Eurasian Economic Union, stimulation of mutual investments, optimization of registration procedures for medications and medical goods, accelerated development of a set of measures for full digitization of government procurement, development of mechanisms and programs for conditional target financing for the development of economies of the Eurasian Economic Union member states.
The third block of measures focuses on financial markets and currency ones: expansion of the use of national currencies in transactions in mutual trade, securing the interaction of national systems for the transmission of financial messages, the accelerated establishment of a Eurasian reinsurance company.
The fourth block of measures focuses on international economic cooperation with third countries and integration associations: exploration of mechanisms for expanding trade and economic cooperation with key partners, signing of agreements on removing technical barriers in mutual trade.
A separate resolution has introduced special import customs duty rates with regard to over 450 kinds of commodities, which are imported for the sake of increasing the stability of the economies, Mikhail Myasnikovich continued. The list is extensive and includes, for instance, baby food, goods for industrial manufacturing and civil engineering, some kinds of agricultural products and foods (sunflower seeds, juices, sugar, cocoa powder, amino acids, starch, ferments, and other ones). The resolution is expected to secure the necessary supply on the home market of the Eurasian Economic Union. The union's duty-free limit on mail parcels for individuals has also been raised from €200 to €1,000.
Close attention is being paid to logistics, import substitution, and retooling on the basis of new approaches to financing manufacturing cooperation projects. For instance, the formation of multimodal transport corridors and new export and import canals, Mikhail Myasnikovich noted. With this in mind the Eurasian Agroexpress project has been worked out and authorized. It is designed to accelerate container transportation of agricultural products and food from China and back. Their regular shipments will allow offering competitive tariffs in comparison with transportation by sea in addition to reducing delivery times, for instance, down to 10-14 days from China. Apart from that, freight transportation by land – the key idea of the Belt and Road initiative – rules out Western interference on shipments. Meanwhile, shipments by sea may run into barriers caused by sanctions, Mikhail Myasnikovich said.
Apart from that, localized facilities for assembling and maintenance of aircraft and aerial vehicles and for making aviation components will be established within the framework of the Eurasian Economic Union. The relevant roadmap has been adopted already.
Registration procedures are getting simplified in order to provide citizens of the Eurasian Economic Union member states with the necessary medications and medical goods, Mikhail Myasnikovich stated. Approved by the Eurasian Intergovernmental Council, the plan on increasing the availability of medications and pharmaceutical substances of strategic importance is being implemented. It will help create the fully integrated production of the most important medications and vaccines in countries of the Eurasian Economic Union.
Food security is one of the key factors in conditions of the pressure of sanctions. The Eurasian Economic Union is now self-sufficient with regard to staple foods – meat, milk, bread, vegetables, and other ones, Mikhail Myasnikovich stated. However, there are sensitive items, this is why the introduction of restrictions on exporting certain kinds of agricultural goods beyond the Eurasian Economic Union territory will be considered. Proposals of the high-level group on organizing effective mutual deliveries of fertilizers, seeds, and other products in the union were backed.
Matters concerning the liberalization of the labor market, the enabling of conditions for unhindered movement of citizens of the member states within borders of the union, their access to medical aid, the processing of wire transfers between natural persons residing in the Eurasian Economic Union member states remain on the agenda. The necessary decisions are being made by the governments of the countries and by EAEU bodies. For instance, the Russian Federation has lifted all restrictions on travels of citizens between Russia and Belarus.
“At present the suggested measures compiled into the first package cover the most sensitive spheres of cooperation for the economies of the member states. The document is open and will be expanded if necessary,” Mikhail Myasnikovich concluded.
