MOSCOW, 4 February (BelTA) - The Eurasian Economic Union plans to set up its own arbitration court, Member of the Board (Minister) for Integration and Macroeconomics of the Eurasian Economic Commission Sergei Glazyev, said during an online press conference from Almaty on 4 February. A meeting of the Eurasian Intergovernmental Council featuring the EAEU heads of government will be held there on 5 February, BelTA has learned.
“We view as possible to consider the setting up of an arbitration court of the Eurasian Economic Union. We have the EAEU Court, it implements its own function. However, disputes between corporations, which often arise and no serious cooperation project can do without them, need some arbitrator. You know that our companies often resort to London, to Stockholm, somewhere else abroad, and get additional costs. We need to develop our own Eurasian instrument for settling economic disputes in order to increase the degree of trust between our companies,” Sergei Glazyev said.
