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Business community actively participates in forming EAEU supranational regulation

Business community actively participates in forming EAEU supranational regulation

The Heads of Governments of the Eurasian Economic Union countries have reviewed the report of the Eurasian Economic Commission on monitoring the regulatory impact assessment (RIA) of the EEC's draft decisions in 2019.

The statistics and analytics presented in the report shows a high level of demand for the RIA among the EAEU countries' business circles. As a part of this procedure the Commission to a great extent takes into account the proposals submitted by representatives of the business and expert community. In 2019, participants in the public discussion submitted 80% more proposals than in 2018. Along with that the share of positive RIA determinations has increased.

Since 2015, the RIA is a mandatory stage in preparing acts of the Commission affecting business activities and the main procedural tool for interaction between the EEC and the business community.

Real involvement of entrepreneurs in integration processes, including through their participation in the RIA, increases the efficiency of regional economic integration processes and enables the business community to receive timely information about regulatory legal acts being developed in the EAEU.

More than half of proposals of the business community sent within the RIA are considered in the EEC's final decisions and every seventh decision subject to the regulatory impact assessment includes these conceptual proposals.​

For reference

Regulatory impact assessment of the EEC's draft decisions is an assessment of their impact on the Union's business environment. The RIA procedure consists of two stages: current assessment, i.e. public discussion of the EEC's draft decision on the Union's website for at least 30 calendar days and final assessment, i.e. preparation of the RIA statement by a specially created Working Group of the EEC.

The Commission's annual report on the RIA monitoring contains reference, analytical, statistical and other information on the practice of assessing the regulatory impact of the EEC’s draft decisions in 2019.​