Strategic objectives for the EAEU

The President of Belarus took part in the Supreme Eurasian Economic Council meeting in Bishkek. Aleksandr Lukashenko firmly stated the need to eliminate barriers to mutual trade within the framework of the Eurasian Economic Union and announced four strategic tasks for the EAEU.

The Head of State called the meeting in the capital of Kyrgyzstan a logical continuation of the dialogue held at the sidelines of the Shanghai Co-operation Organisation and the CIS, “We see that the primitive massive issuance of thoughtless packages of economic sanctions by the collective West against Belarus and Russia is beginning to subside. Everything that could be banned and limited, even to their own detriment, has already been banned and limited by our counterparts. Now it’s time for them to fathom the consequences. Everyone is now talking about the energy and food crises. You don’t have to be a visionary to assume that another crisis — a political one — is not long in coming in some countries. The writing is already on the wall.
Households and businesses in a number of Western countries are becoming increasingly dissatisfied and critical.”
According to the Belarusian leader, the most important thing is that the EAEU prevented deterioration of the living standards of people.
Aleksandr Lukashenko also noted, “The decisions taken within the framework of the Eurasian Economic Union allowed significantly mitigating the negative effect of the sanctions and supporting important sectors of the economy. Yet, there is still a lot of work ahead. 
Considering the fundamental changes in the world, we have to pay close attention to strategic areas of the EAEU development along with accomplishing current tasks. In this regard I would like to stress the importance of further deepening of the union integration and the necessity to position our union on the international arena.

Photo by BELTA

First. As for strategic tasks, it is necessary to ensure prompt implementation of joint projects to develop modern industries — the industries of the future. This is an obligatory element of our economic sovereignty. Today we are going to take another step in this direction — we are considering the issue of vesting the EAEU bodies with the authority to provide financial assistance for industrial co-operation from the EAEU budget. The possibility of subsidising interest rates on loans will help the Eurasian Development Bank to raise the financing of specific industrial projects to a qualitatively new level.
Second. We need to improve, at all costs, the blood circulatory system of our union. I’m talking about finances. It is already clear to everyone that the era of dollar dominance is coming to an end. The future belongs to trade blocs, settlements in which will be made in national currencies. Belarus and Russia are no longer using the U.S. dollar in their main settlements. It is important that other partners actively join this process.
Third. At the meeting of the Supreme Council in May 2022 we agreed to consider the issue of removing barriers in the EAEU domestic market
I believe that we should not have any barriers to mutual trade in principle. This is the essence of our union. This will solve two main problems of providing national markets with critical imports and coordinating the export of strategically important goods, especially foodstuffs.
Fourth. Priority should be given to improving the international authority and competitiveness of our union. Recent events have shown that not everyone agrees with the further existence of the unipolar world. As a result, the role of such integration associations as the SCO and BRICS is growing. The EAEU must keep pace with them. These countries share our position on the need to respect different cultures, views and political systems. Perhaps some ASEAN states will want to take part in such a meeting too.
The core items on the summit agenda could be economic co-operation (for example, the formation of regional trading blocs, the use of national currencies), and also energy and security…
We need to be clear and consistent in declaring its presence on the world map and through further expansion of free trade zones with stakeholders.
Today we decide to start of negotiations on a free trade agreement with the United Arab Emirates. It is a landmark political step for our union.
At a time when they are trying to split and isolate us, we are systematically expanding trade co-operation with our partners. Negotiations on free trade zones with Iran and Egypt are already on the home stretch. Negotiations with Indonesia and Mongolia are about to begin. In addition to economic bonuses, the conclusion of such agreements demonstrates the futility of the attempts of the collective West to strangle us with sanctions.”


An informal summit of the CIS heads is planned to be held in St. Petersburg before the New Year
The presidency in the EAEU is transferred from Kyrgyzstan to Russia. Therefore, the next summit of the leaders of the countries — members of the union will be held on the territory of the Russian Federation. It is scheduled from May 24th to May 25th, 2023. The meeting point will be determined in due course. And before the end of this year, the Presidents of the CIS countries will meet again. Vladimir 
Putin invited his colleagues to the pre-New Year informal CIS summit in St. Petersburg.

The Heads of the EAEU States signed a protocol amending the procedure for levying VAT on the provision of services in electronic form on the territory of the Union, approved the Main Directions for the International Activities of the EAEU for 2023, a list of priority areas for the liberalisation of services, and also decided to expand the single market for services of the Eurasian Economic Union, which will be replenished by 14 service sectors from January 1st, 2023.
In addition, it was decided to create a subsidiary body — the EAEU council of heads of authorised bodies in the energy sector. 

Based on materials from sb.by and belta.by