MOSCOW, 26 August (BelTA) - Chairman of the Board of the Eurasian Economic Commission (EEC) Mikhail Myasnikovich focused on the priority areas for the development of industrial cooperation in the Eurasian Economic Union (EAEU) as he took stock of the Eurasian Intergovernmental Council summit held in Cholpan-Ata, Kyrgyzstan on 25-26 August, BelTA has learned.
“All the prime ministers stated that it is unrealistic to provide annual economic growth of more than 5.5% on the current production base, and we need new tools to make the economy of the Eurasian Economic Union grow at a faster pace. Why do I speak about 5.5% of GDP growth a year? These figures are included in the strategy to ensure faster growth compared to the global average. That is why the decision was made on investment activities,” said Mikhail Myasnikovich.
According to the chairman of the EEC Board, the EAEU heads of government had an open discussion about the necessity to improve the work of development institutions and also about the funding sources to support investment activities. “The EEC has already had some work in progress, first of all it is about the list of priorities. In the EEC's opinion, first of all we should focus on the development of the electronic industry: Russia and Belarus have the relevant competences. In order not to lag behind in this respect we need to invest a lot, both financially and intellectually, to have new productions, enterprises for the production of the element base of electronics and microelectronics,” Mikhail Myasnikovich said.
He called the pharmaceutical and biological industry the second area in need of serious development. “I fully share the approaches that were outlined at the meeting by Belarusian Prime Minister Roman Golovchenko about the need to develop an appropriate program of biological security in order to raise pharmaceutical production,” Mikhail Myasnikovich said.
“One more area is everything that concerns the processing industry. The task is to make the share of the processing industry be at least 20% in the structure of the economy. Belarus has it at 23%, while the rest of the EAEU countries have it at the level of 11-14%,” the chairman of the Board of the Eurasian Economic Commission said.
