MINSK, 17 April (BelTA) – The Advisory Council of the Chambers of Commerce and Industry of the Eurasian Economic Union member states will gather information from the private sector about the barriers that impede trade and the transportation of medical goods and other goods, demand for which has spiked due to the coronavirus pandemic. The relevant proposals will be forwarded to the Eurasian Economic Commission, the commission's press service told BelTA after a videoconference meeting of heads of the chambers of commerce and industry of the EAEU member states. The meeting was arranged on 17 April upon the initiative of the Belarusian Chamber of Commerce and Industry (BelCCI).
Chairman of the Board of the Eurasian Economic Commission Mikhail Myasnikovich talked about the measures being taken in the Eurasian Economic Union to ensure economic stability during the pandemic. In particular, he mentioned a set of urgent anticrisis stabilization measures and measures designed to revive and develop the economies of the EAEU member states. The measures had been approved by the Eurasian Intergovernmental Council. Mikhail Myasnikovich noted: “The commission tries to help remove barriers standing in the way of mutual trade and cooperation in real time. A number of conformance procedures have been scrapped to enable speedy delivery of medical goods onto markets of the EAEU countries. A green corridor will be created for importing goods of critical importance. Plans have been made to temporarily reduce or suspend import customs duties on the components and raw materials individual branches of the economy need. Another problem we are always on is ensuring the uninterrupted operation of the freight transportation industry.”
According to Mikhail Myasnikovich, it is necessary to help enterprises of the production sector, transport, and the sphere of services, which are in a complicated situation. “It is necessary to help them out with preferential-rate loans to be repaid after a respite of 2-3 years. Macroeconomists will argue that it would have a negative effect on the exchange rates of the national currencies and on inflation. Yes, it will but we have to support producers of goods and services in order to smoothly recover from the crisis.”
Mikhail Myasnikovich encouraged the chambers of commerce and industry to work with the Eurasian Fund for Stabilization and Development and the Eurasian Development Bank to work out new ways to support the private sector, primarily small and medium businesses.
“It is concerning that individual national regulatory authorities make unilateral decisions to support their own economies, thus often creating additional hardships for partners in the Eurasian Economic Union,” Mikhail Myasnikovich stated. “Such actions provoke reciprocal measures, even tougher ones. This is why all decisions must be coordinated.”
The heads of the chambers of commerce and industry discussed national measures and agreed to join efforts in order to work out joint decisions with assistance of the Eurasian Economic Commission to bolster cooperation and stimulate economic development in the Eurasian Economic Union in crisis conditions. The heads of the chambers of commerce and industry adopted a statement addressed to the private sector. Private businesses of the EAEU member states are encouraged to report opportunities, needs, and problems of cooperation with partners within the framework of the Eurasian Economic Union to the EAEU chambers of commerce and industry. They are encouraged to report barriers that impede trade and the transportation of medical goods and other goods, demand for which has spiked due to the coronavirus pandemic. The private sector is encouraged to submit proposals on intensifying integration processes and expediting the formation of the common economic space of the Eurasian Economic Union.
The Advisory Council of the Chambers of Commerce and Industry of the Eurasian Economic Union member states will summarize the information it will receive and will forward the relevant proposals to the Eurasian Economic Commission.
