Projects
Services
Government Bodies
Flag Friday, 2 December 2022
Minsk Overcast sky -9°C
All news
All news
Economy
03 October 2022, 09:48

MP: EAEU opens up equal horizons for business

MINSK, 3 October (BelTA) - Despite sanctions, economic integration in the Eurasian Economic Union (EAEU) is deepening, member of the Standing Committee on International Affairs of the House of Representatives Pavel Popko told BelTA as he commented on the protocol on amendments to the Eurasian Economic Union Treaty of 29 May 2014.

The protocol on amendments to the Eurasian Economic Union Treaty provides for a comprehensive adjustment of the document taking into account law enforcement practice (more than 130 amendments). They include efforts to eliminate gaps in legal regulation and harmonize the terminology used in the treaty. The amendments also concern the application of anti-dumping measures in relation to third countries, the collection of indirect taxes and control over their payment, competition and state price regulation.

The Eurasian Economic Commission is vested with additional powers, including the assessment of the regulatory impact of draft international treaties within the EAEU, which may affect the conditions for doing business, to agree on the extension of the term of state price regulation. The protocol contains solutions to a number of issues that arose in the administration of indirect taxes in mutual trade of economic entities of the EAEU countries.

“The most important thing is that there is a deepening of economic integration in spite of the sanctions pressure and the international political agenda. This is the economic integration of the five EAEU states. All decisions have been taken in the interests of the business environment, to improve the investment climate and fight against unfair competition. The document also provides for steps to fight against dumping and subsidized imports. Accordingly, equal competition is created for manufacturers and entrepreneurs within the EAEU. The Eurasian Economic Commission has been given additional powers. This is the application of anti-dumping measures in relation to third countries, the collection of indirect taxes, control over their payment, and price regulation,” said Pavel Popko.

According to him, the protocol equalizes the rights of entrepreneurs and respectively opens equal horizons for business.

Belarusian President Aleksandr Lukashenko signed laws that ratified two protocols amending the Eurasian Economic Union Treaty and the Agreement on the Audit Activities in the EAEU.

Subscribe to us
Twitter
Recent news from Belarus