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06 June 2024, 10:54

Yermolovich: EAEU common exchange market concept is almost ready

Photo courtesy of eec.eaeunion.org
Photo courtesy of eec.eaeunion.org
MOSCOW, 6 June (BelTA) - The concept for a common exchange market of the Eurasian Economic Union (EAEU) is at the final stage, Maksim Yermolovich, member of the Board (Minister) for Competition and Antimonopoly Regulation of the Eurasian Economic Commission (EEC), said at the St. Petersburg International Economic Forum on 6 June, BelTA has learned.

“The commission has almost completed the development of the EAEU common exchange market concept. The concept envisages stage-by-stage formation of this exchange space. An appropriate program will be developed for the concept to include detailed measures with responsible executors,” Maksim Yermolovich said.

In his words, the first stage of developing a common exchange space envisages a launch of an effective exchange of information between all participants of exchange trade.

According to the EEC minister, a unified exchange policy in the EAEU could solve many problematic issues in trade. “I hope that by forming a transparent, clear mechanism for calculating exchange indices, we will create the right signals for the market. By introducing oil products, basic food products into circulation on the exchange, we will actually create a common market for sensitive goods in the EAEU, which is so difficult to solve at this stage. This is a parallel movement forward, which may even overtake our traditional negotiation tracks on oil and oil products, and possibly on gas and food products in the future. Then the infrastructure itself will solve the problem that is so difficult to solve in our negotiations within the Eurasian Economic Union,” Maksim Yermolovich said.
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