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Single market of services encourages investing in EAEU countries' economy

Single market of services encourages investing in EAEU countries' economy

8/4/2020
Investment opportunities of the Eurasian Economic Union countries and creating a favorable business climate and prospects for investment cooperation were discussed at the International Online Conference "From Recovery to Sustainable Growth". The panel discussion on the EAEU investment prospects was attended by officials of Business Development Department.

Proposals and recommendations have been elaborated for developing cooperation between the EAEU States in this field, overcoming negative consequences of today's crisis and deepening integration interaction in the Union.

Galiya Dzholdybaeva, Director of the Eurasian Economic Commission's Business Development Department, has stressed in her speech that developing investment cooperation between the Union States, the legal environment for which had been created by the Treaty on the EAEU, is of major importance now amid overcoming the crisis caused by the pandemic.

For example, the Union countries have assumed obligations not to worsen business environment as well as to retroactively apply additional guarantees of the Treaty to all investments starting from December 16, 1991. Providing national and most favored nation treatment to the EAEU countries' investors and not applying quantitative, investment or other restrictions is another important Union advantage.

Close correlation between further expansion of the Union States' investment interaction and expanding the EAEU single market of services was noted. "The functioning of the single market of services in our Union is a kind of motivating factor that encourages investing in the EAEU countries' economy. Investing capital in one or another project using mechanisms of the single market of services makes the investment attraction process more advantageous," Galiya Dzholdybaeva pointed out.

For reference

The conference was attended by Mikhail Myasnikovich, Chairman of the EEC Board, as well as representatives of the Government of the Republic of Belarus, the UNCTAD's Division on Investment and Enterprise, the Executive Committee of the World Economic Forum, the European Bank for Reconstruction and Development, the Eurasian Development Bank, "Great Stone Industrial Park Development Company", CJSC, and the Confederation of Industrialists and Entrepreneurs (Employers).​