Russia for single financial EAEU market

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CHOLPON-ATA

Russia is calling on its partners in the Eurasian Economic Union (EAEU) to speed up the ratification of all documents on the formation of a common financial market by 2025, Russian Prime Minister Dmitry Medvedev said at a meeting of the EAEU Intergovernmental Council. He recalled that a common financial market within the space of the five countries (Russia, Kazakhstan, Belarus, Armenia, Kyrgyzstan) should be created by 2025.

I would like to call on our partners to act more actively and speed up ratification of all necessary documents, Medvedev said addressing to his colleagues in the countries of the EAEU. More than 180 mln consumers now reside within our common market, therefore there should be no obstacles for communication between them and here we share common position. Perhaps there is a difference in approaches how to achieve this, but in general, we are all willing to form a single economic space that occupies almost 20 mln square kilometers, Medvedev said.

He stressed that now the common market of the EAEU has a wide range of quality goods sold at competitive prices. For example, in terms of agricultural products, fruits and vegetables, our countries cooperate very well, Medvedev said. He also noted that drafting of an agreement on regulation of the alcohol market in the EAEU.

We hope that by now most of its points have already been agreed on, we have agreed on what to do next, Medvedev said.

Russian Prime Minister Dmitry Medvedev expects members of the Eurasian Economic Union (EAEU) to reach final agreements on tariffs at Friday’s meeting of the EAEU Intergovernmental Council in Kyrgyzstan. Today, we will discuss pressing issues related to the Union’s activities, including supranational regulations. I hope that we will reach final agreements on the issue you have just mentioned, I mean, tariff distribution, Medvedev said at a meeting between the heads of EAEU countries’ delegations and Kyrgyz President Sooronbay Jeenbekov.

 

The Russian prime minister highlighted the importance of issues concerning the development of digital economy and a common financial market. We have achieved certain success indeed. Administrative barriers are coming down, though not as fast as we would like them to, Medvedev noted. The PM emphasized that EAEU member states acted as one on the international competitive playing field.

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