📋 Tender Overview
This conclusion was reached by the participants of the Eurasian Business Forum “Integration”, which was held on November 15 at the President Hotel in Moscow. The plenary session of the forum was dedicated to the Greater Eurasian Partnership and the priority development strategy.
The Minister for Integration and Macroeconomics of the Eurasian Economic Commission, moderator of the plenary session, Sergei Glazyev , said that the Commission, together with the countries of the Eurasian Economic Union, is currently actively working on a draft Declaration on the further development of economic processes within the EAEU until 2030 and for the period until 2045. A report is also being prepared on the functioning of the EAEU, which covers the entire period of the association’s existence. Both documents are scheduled to be presented to heads of state in December.
“Our calculations show that the integration effect is quite large, especially for states that are closely integrated with partners. We see the greatest contribution of integration to GDP growth in Belarus; Kyrgyzstan and Armenia also have significant indicators. In Kazakhstan and Russia, the effects are relatively lower, but in absolute terms they are no less. That is, Eurasian economic integration provides a very high increase in economic activity, while the growth opportunities are colossal,” said Sergei Glazyev.
He also drew attention to the fact that production capacity utilization in the EAEU countries is slightly more than 60%, which opens up opportunities for increasing production output. In addition, according to his assessment, the EAEU has enormous potential for import substitution.
Deputy Minister of Economic Development of the Russian Federation Dmitry Volvach, in turn, said that since the creation of the EAEU, mutual trade has almost doubled, with external partners - by 60%. Over the first 8 months of this year, the volume of mutual trade in the EAEU increased by almost 9% compared to the same period last year and amounted to about 4.5 trillion rubles.
“In 2023, we managed to reach a trajectory of stable growth of the total GDP of the EAEU - 3% for the nine months of this year. This is despite the fact that two members of the Union are under sanctions pressure, and yet our total GDP is growing by 3%,” said Dmitry Volvach.
EEC Minister of Energy and Infrastructure Arzybek Kozhoshev focused on the EAEU integration agenda in energy and transport, noting that the common markets for the Union’s energy resources are planned to be launched on January 1, 2025.
EEC Minister for Technical Regulation Viktor Nazarenko said that the creation of a unified system of technical regulation of the EAEU has entered the final stage , when a return to regulation at the national level is no longer possible. But further movement is hampered by the tendency to preserve instruments of influence at the state level to the detriment of integration opportunities.
Minister Counselor of the Embassy of the People's Republic of China in the Russian Federation Liu Qinghua shared her views on the work to integrate the Eurasian Economic Union and the Chinese One Way, One Road initiative. “Connection and cooperation corresponds to the course of historical development and reflects the interests of countries,” she emphasized.
Vice-President of the Russian Union of Industrialists and Entrepreneurs (RSPP) Alexander Murychev said that the program for financing industrial cooperation adopted in the EAEU is an important innovation for business, and expressed hope that a large number of representatives of small and medium-sized businesses will be able to participate in the program.
General Director of JSC United Transport and Logistics Company - Eurasian Railway Alliance (JSC UTLC ERA) Alexey Grom spoke about the dynamics of development of cargo transportation, and Deputy Head of the Federal Customs Service of Russia Elena Yagodkina touched upon the issues of simplifying and accelerating transit transportation.
Also speaking at the plenary session were the head of Rosstandart Anton Shalaev, who raised the problem of the lack of a coordinated policy in the field of ensuring uniformity of measurements, the director of LVO LLC (Republic of Belarus) Oleg Kondratenko and the general director of the National Rating Agency Tatyana Grigorieva, who focused on the integration of sustainable development agendas in level of regions of the EAEU countries.
