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EAEU: new opportunities for European business

30114370.1063697_a “The German business considers the EAEU economically feasible” –the Head of European Economic Commission (EEU) Board Tigran Sargsyan commented on results of the research conducted by the Russian-German Foreign Trade Chamber before the start of the conference “New rules, new spaces – opportunities for Russia and EAEU”. Tigran Sargsyan and the members of the Board (ministers) of the EEU Karine Mnasyan and Mukai Kadyrkulov were the main speakers of the forum, which united 400 representatives of the German business society, who already maintain business in the Eurasian Economic Union (EAEU) and consider opportunities to invest in EAEU countries.

In front of the German businessmen Tigran Sargsyan spoke about the principles and strategy of EEU. “I am glad that expectations of the European business from their activity in EAEU are positive, that the German companies are ready to invest in the Union economies. This means that we have mutual interests and constructive dialogue is possible, - noted Tigran Sargsyan. – The EU is expected to find solutions which could improve the business climate and build a single market of goods and services. This approach to the EAEU coincides with the goals of the five EAEU countries, their governments and citizens.” Tigran Sargsyan stressed that “the pass to the single market and common economic area should be careful, the decisions balanced. It is necessary to avoid harm to the already working companies and investment projects”. He ensured the Eurasian and European businessmen that the main priority of the Commission is to create favorable conditions for cooperation. “Today we make the following steps to build a real no-barriers common economic area, single market of goods, financial and transport services, energy resources, - the EEU Head of the Board underlined. – one of the main vectors is the digital agenda, information platforms which would ensure transparency of shipment from the borders of EAEU to the final customer, as well as facilitate the document flow”.

The member of the EEU Board (minister) on customs of Mukai Kadyrkulov told the foreign trade participants about the upcoming changes on the EAEU single market after the new customs legislation comes into force. According to the minister, “EAEU can guarantee to the trade partners reliable and confident conditions for cooperation based on clear rules on the whole territory of the Union”.  Regarding the Customs Codex of the EAEU Mukai Kadyrkulov noted that it is the first international document in the EAEU practice, which was worked out jointly by the Commission, national regulators and business society. Mukai Kadyrkulov believes that there are two key approaches to the dialogue with the partners from the third countries and unions: “It is about the matching of transit systems and the future transcontinental system of customs, as well as mutual consideration of authorized economic operators. If we make a deal, it will greatly facilitate the business process for our countries”. The member of the EEU Board (minister) on domestic markets, IT, information and communicative technologies Karine Minasyan addressed the issues of barriers  removal and the role of IT in transparent business environment. In particular she stressed that the EEU work together with national governments of the member-states of the Union on barriers removal has become systematic. One of the main results is the portal, which is the main communication channel  with the business society. This online platform allows the EAEU businessmen to reveal barriers for free economic cooperation.  “Our experience, not too long but effective, in fact has become useful behind our Union, - Karine Minasyan pointed out. – The fact that we are discussing the issue here, at the conference organized by the German business associations, gives ground to say that we are in a new stage of globalization, where the experience of one integration union is considered by the others. The conference “New rules, new spaces – opportunities for Russia and EAEU” has united more than 400 representatives of German business, which want to keep their positions on the markets of the Eurasian Economic Union. Issues discussed covered a broad range if areas including shipment, customs, marketing and sales, local content and investment in innovative projects. As the Head of EEU Board Tigran Sargsyan pointed out, such meetings make cooperation clear and predictable for the European business. Especially regarding that the European companies still remain favorable partners for the Union countries.

This post is also available in Russian: ЕАЭС открывает новые возможности для европейского бизнеса