Kazakhstan, Russia, Armenia, Belarus, Kyrgyzstan intend to make their economies more resilient in times of crisis

Members of the Eurasian Economic Union plan to establish economic and trade relations with the EU and the Shanghai Cooperation Organization. "We consider separately the possibility of establishing trade and economic relations of the EAEU with integration associations, such as the EU, SCO and others", - said the President of Kazakhstan Nursultan Nazarbayev said in Astana at a meeting of the Supreme Eurasian Economic Council.

The Head of State recalled that the first agreement of EAEU with Vietnam was signed in 2015. Today in Astana the presidents of Kazakhstan, Russia, Armenia, Belarus, Kyrgyzstan at a meeting in a narrow circle, prior to a meeting in an expanded format, also discussed "cooperation with China, India, Israel, Egypt, Iran, Cambodia and many other countries".

"The convergence of our economies occurs in accordance with the plans and deadlines that have been identified. Governments and business have the necessary experience in cooperation with each other", - stated Nursultan Nazarbayev, who chaired the meeting.

Let’s note that the EAEU integration plans were supported by the presidents of the member countries. "We also welcome the initiative of the Kazakh partners to hold an international conference to establish cooperation between the Eurasian Union and the EU. It is necessary that the Eurasian Economic Commission is actively involved in its elaboration", - said Russian President Vladimir Putin.

In turn, the head of the Russian Federation informed about the implementation of joint economic projects within the EAEU. Vladimir Putin called "a promising area the joining of Union states to import substitution program, carried out in Russia". "We invite all our partners to the joint production of equipment and accessories in more than 25 industries, including machine building, electronics, light industry, agriculture", - he said.

According to the Russian president, in 2019, "should be formed a common electricity market, its concept was approved and preparation of the appropriate program has been launched". According to experts, it will allow to achieve GDP growth of member-states of the EAEU. The issue of the creation of a single market of hydrocarbons by 2025 was also discussed in Astana today. "We will adopt relevant documents, which provide equal conditions of competition at the territory of the entire Union, which would give the combined effect in the gas industry of more than 1 billion USD, and in the oil industry - up to 8 billion per year", - said Putin.

Commenting the news to journalists, the chairman of the Eurasian Economic Commission Tigran Sargsyan said at a briefing in Astana that the establishment of the market will be gradual. "We need to develop in the next year and submit the program of implementation of this concept for approval of the presidents, and further we will prepare the corresponding agreement, after the adoption of which by 2025 we will have a single energy market", - said Sargsyan. Adoption of the program will allow power companies in the EAEU get non-discriminatory access to the oil infrastructure of partners, to buy oil and oil products without quantitative restrictions on market price without export duties.

Another issue discussed in the agenda - a common market in the field of socially important medicines and medical devices. It is expected that it will be launched in the current year, after the completion of the negotiation of agreements on the rules and principles of treatment of these products.

Within the framework of the Eurasian Economic Commission is continuing the development of trade relations. Memorandums of Understanding were signed with the Governments of Mongolia, Peru, Chile, negotiations with Serbia are on the way.

The problematic issues were also discussed at the meeting. In particular, the President of Belarus Alexander Lukashenko believes that it is important "to get rid of internal exclusions and restrictions in mutual trade. "The number of these exceptions and limitations didn’t change. It remains at the level of the six hundred", - stated the head of Belarus.

"We all members of EAEU should clearly realize that there is no other alternative, and firmly believe in the future of the Union", - said, in turn, the President of Kyrgyzstan, Almazbek Atambayev.

The presidents also approved the guidelines of macroeconomic policies of member-states of the EAEU for 2016-17. It is important to improve the stability of the economies despite negative economic situation in the world. Today's meeting in Astana showed that the EAEU countries are not only increasing their trade and economic potential, but also develop the economic attractiveness of the EAEU, not only in the CIS.

Zhanar Serdalina