Belarus suggests more active cooperation of EAEU with European Union, far-arc countries

YEREVAN, 1 October (BelTA) – It is necessary to pay more attention to far-arc countries for the sake of expanding the international agenda of the Eurasian Economic Union. Belarus President Aleksandr Lukashenko made the relevant statement during the session of the Supreme Eurasian Economic Council in Yerevan on 1 October, BelTA has learned.

Aleksandr Lukashenko said: “For the sake of expanding the international agenda of the Eurasian Economic Union it is necessary to pay close attention to far-arc countries where our products and services are poorly recognized for now. We suggest the Eurasian Development Bank should get actively involved in this work. Our national development banks and other financial institutions should also look for ways to establish tighter interaction both inside the union and outside it.”

Aleksandr Lukashenko praised the advancement of cooperation between the Eurasian Economic Union and third countries, including the development of a temporary agreement on creating a free trade zone with Iran and a package of agreements with Singapore. The agreement with Iran will come into force in October.

“Your countries are very significant partners for us. The potential for stronger economic ties is huge. After securing the regime of preferences it is important to encourage the private sector and the governments to establish interaction in a more measured fashion,” Aleksandr Lukashenko told the presidents of Iran and the prime minister of Singapore, who were present during the session.

Aleksandr Lukashenko also mentioned with satisfaction the readiness to sign a free trade agreement with Serbia. He reminded that an agreement on trade and economic cooperation with China will come into force in October. In June the Eurasian Economic Union and the People's Republic of China agreed to share information about goods and vehicles in advance in order to expedite freight traffic across the border.

“The Eurasian Economic Commission should work out a similar agreement with the European Union in order to make transportation by land from China to Europe via our countries the most attractive route,” Aleksandr Lukashenko believes.

Aleksandr Lukashenko also noted that the Eurasian Economic Union had seriously stepped up interaction with the Commonwealth of Independent States, the Shanghai Cooperation Organization, and the Association of Southeast Asian Nations. According to the head of state, the integration associations share interests in the spheres of transport, manufacturing cooperation, and digitization.

EAEU adopts concept of common financial market

“Today we have passed the concept of the formation of the EAEU common financial market thus paving the way for free movement of capital and services,” Aleksandr Lukashenko said.

Belarus president calls for political decision to dismantle barriers in EAEU

Aleksandr Lukashenko said: “We've invested the Eurasian Economic Commission with the authority to track goods and label them. The commission has to guarantee that these forward-looking proposals will not become another trade barrier."

Belarus president in favor of more efforts to develop trade inside Eurasian Economic Union

Aleksandr Lukashenko said: “I think before talking about the Eurasian Economic Union's overall trade we should think about ways to find happiness inside the union, about ways to secure the largest profits from domestic trade. And it is necessary to persistently dismantle barriers if we are to achieve that goal.”

Putin confirms need to dismantle trade barriers in EAEU

According to the Russian leader, the Eurasian Economic Union faces new large-scale tasks and close attention should be paid to systemic work to remove barriers in the mutual trade in merchandise and services.

Pashinyan: EAEU has proved its viability and grows stronger year by year

“The organization has been growing stronger every year for five years already. It has proved its viability and appeal as an international integration association,” Nikol Pashinyan said.

EAEU urged to speed up transition to payments in national currencies

“We believe that it is necessary to channel our efforts into creating favorable conditions for transition to payments in national currencies between the EAEU member states,” Armenia Prime Minister Nikol Pashinyan said.

Singapore prime minister hails EAEU growth potential

The Eurasian Economic Union (EAEU) has a great potential for growth, especially in logistics and the digital sphere, Singapore Prime Minister Lee Hsien Loong said. He congratulated the EAEU on the success in promoting integration and noted that the EAEU has set itself ambitious goals.

EAEU, Singapore sign FTA agreement

Singapore Prime Minister Lee Hsien Loong stressed that signing a free trade agreement between the EAEU and Singapore is the outcome of two-year-long negotiations which have led to a mutually beneficial solution.

Moldova president urges EAEU to build free trade zone with European Union

The president said in his speech during the session: “We hope that EAEU-EU negotiations on creating a large free trade zone will begin sooner or later.” He continued: “We support the idea of signing such an agreement. It would be a major breakthrough."

Minsk expected to host Eurasian economic forum in 2020

Prime Minister of Armenia Nikol Pashinyan suggested organizing a business forum of the Eurasian Economic Union during the last summit. He expected the forum to take place alongside a session of the Supreme Eurasian Economic Council in the capital of the country presiding in the Eurasian Economic Union.

Plans to appoint Eurasian Economic Commission officials at next EAEU summit in December

The official said: “The Supreme Eurasian Economic Council will meet in December and will likely make the final decision on the chairperson of the Board of the Eurasian Economic Commission and respectively the distribution of jobs among the countries.”