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30 November 2020, 13:08

EAEU enters new phase of integration, ready to offer $200bn worth of projects

Mikhail Myasnikovich
Mikhail Myasnikovich

MINSK, 30 November (BelTA) – The Eurasian Economic Union (EAEU) is entering a new phase of integration, Chairman of the Board of the Eurasian Economic Commission Mikhail Myasnikovich told the media after the meeting with Belarus President Aleksandr Lukashenko on 30 November, BelTA has learned.

“We are entering a new phase (and this is largely thanks to Belarus) - project integration, when in addition to system-wide measures specific ones are used for the production and social sectors. For example, the EEC, together with the countries, have worked out a map of industrialization. There are joint projects, which can be offered both to private business and potential foreign investors, estimated at the total of $200 billion. This is the core of integration, through which integration issues become irreversible,” Mikhail Myasnikovich said.

So far, the EAEU has been mainly focused on removing barriers in domestic trade, restrictions and so on. This concerned goods and services produced in the EAEU countries. “Today we are talking about setting up joint trans-Eurasian economic companies,” the head of the EEC Board said.

According to him, the focus now is also on the agricultural industry, and special attention in this issue is attached to the EAEC self-sufficiency in ensuring food security. “We can see that there is complete self-sufficiency. There are no threats that if third countries change their trade regimes, it may have a negative impact on our food security. There is no such thing. The commission is currently working on correct management of food resources, taking into account natural and climatic factors and specialization of countries,” Mikhail Myasnikovich said.

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