Navigate Up
Sign In
Outcomes of the Supreme Eurasian Economic Council

Outcomes of the Supreme Eurasian Economic Council

5/19/2020

Today, a meeting of the Supreme Eurasian Council was held via video conferencing.

The Strategy for Developing the Eurasian Economic Integration until 2025 was generally approved. At the same time, the Union countries' governments were instructed to finalize the document by the next meeting of the Supreme Eurasian Economic Council, which is planned to be held as a face-to-face meeting.

The EAEU countries' governments were instructed to have liberalization program for cabotage road transportation implemented. The key objective of the program is to reduce empty runs and lower transport costs for consumers of freight road transport services. 

The SEEC approved the main guidelines for the Eurasian Economic Union States’ macroeconomic policy for 2020 - 2021. The document includes a set of national and integration measures to improve the economic situation in Member States and minimize the economic consequences of external shocks associated with the coronavirus pandemic and a sharp decrease in commodity prices.

The Supreme Eurasian Economic Council also approved the 2019 annual report on the state of competition in transboundary markets and measures taken in the Eurasian Economic Union to prevent violations of the general rules of competition therein. The report noted that the Union was consistently working to remove barriers to the movement of goods, and more and more markets were becoming common and open to entrepreneurs.​