Yermolovich: EAEU market should become more open to all its participants
A global goal is set to make the EAEU common market more open to all its participants – as stated by Maksim Yermolovich, member of the Board (Minister) for Competition and Antimonopoly Regulation of the Eurasian Economic Commission
According to Mr. Yermolovich, it was initially envisaged that the EAEU would implement the principle of four freedoms: the free movement of goods, capital, workforce and services throughout the Eurasian space.
“This space now includes five countries: the Republic of Belarus, Armenia, the Russian Federation, Kazakhstan, and the Kyrgyz Republic. Cuba, Iran and Uzbekistan are observers in our Union. Our family is already quite large, uniting more than 180 million. Differently speaking, it is a large, capacious market that is quite self-sufficient. In order to ensure the freedom of movement of capital, workforce, goods and services, we are talking about moving to more in-depth industrial co-operation. The latter will focus on creating joint ventures, ensuring food security and technological sovereignty," Mr. Yermolovich said.
According to the member of the Board (Minister) for Competition and Antimonopoly Regulation of the Eurasian Economic Commission, the task for now is to define how the EAEU member states can become more industrially strong and technologically sovereign through integration, provide their citizens with cheap and high-quality food, and ensure full food production on the Union’s territory.
Mr. Yermolovich noted that different options are being considered on how to implement this, “There are mechanisms to support such co-operative projects in the Eurasian Economic Union at the expense of the EAEU budget, financial instruments are operational, but the number of projects is still insufficient. Therefore, the President of Belarus quite rightly points out that we need to deepen this co-operation, move on to real large-scale projects that will make the whole Union stronger, more independent and ensure a high level of well-being for our people.”
