On December 24, 2019, the fourth meeting of the Advisory Board for Interaction between the Eurasian Economic Commission and the Business Council of the Eurasian Economic Union (hereinafter, the Advisory Board) made the decision to create a working group on the main directions of integration development under the Advisory Board (Paragraph II of the Minutes of the Fourth Meeting of the Advisory Board No. 4-СT dated December 24, 2019
The working group on the main directions of integration development under the Advisory Board (hereinafter, the working group) was headed by Sergei Glazyev, Member of the Board - Minister in charge of Integration and Macroeconomics.
According to proposals made by the Business Council of the Eurasian Economic Union, the working group includes business representatives from the EAEU Member States.
The main aim of the working group is to ensure continuous interaction with the business community on the most relevant matters regarding the development of integration processes within the Union.
The main objectives of the group are:
-to determine the spheres and directions of development of integration processes within the Union that are most promising for business communities' representatives from the Union Member States;
-to generate proposals on measures and mechanisms for implementing the directions of development of integration processes within the Union that are most significant for business communities' representatives from the Union Member States;
-to generate proposals on the need to improve the law of the Union with regard to the practice of its functioning and in connection with the development of integration processes;
-to identify problematic issues that restrain integration development in the Union or have a negative impact on integration development within the Union.
The first meeting of the working group was held on December 30, 2019, and discussed the progress of preparation of draft Strategic Directions for Developing Eurasian Economic Integration until 2025.
For reference: Draft Strategic Directions for Developing Eurasian Economic Integration until 2025 are being prepared in accordance with Disposition No. 9 of the Supreme Eurasian Economic Council dated December 6, 2018. This document will disclose specific mechanisms and measures for implementing the Declaration on Further Development of Integration Processes within the EAEU signed by the members of the Supreme Eurasian Economic Council in December 2018.
The second meeting of the working group was held on February 18, 2020, and discussed agenda items on the progress of preparation of draft Strategic Directions for Developing Eurasian Economic Integration until 2025 and on the assessment of the effect of barriers, exceptions and restrictions on the development of mutual trade between the Member States of the Eurasian Economic Union.
During the discussion, event participants noted the relevance of implementing the following directions of the EAEU development:
- harmonization of rules on liability for offences in the sphere of technical regulation;
- improvement of the system for traceability and marking of goods;
- integration development in the financial and banking sector;
- implementation of arrangements achieved within the EAEU, including in terms of implementing the program for liberalizing cabotage transportation.
On August 17, 2020, Sergei Glazyev, Member of the Board - EEC Minister in charge of Integration and Macroeconomics, held a meeting with business community representatives from the EAEU Member States on interaction in the implementation of initiatives being discussed as part of elaborating the Strategy for Developing the Eurasian Economic Integration until 2025.
Expanding the EEC dialogue with the business community, including that of third countries with which sustainable business relations had been established already, as well as building direct contacts with the aim of intensifying sectoral cooperation would make it possible to increase the geography of business interaction with external partners interested in the expansion and deepening of ties.
Sergei Glazyev proposed to expand the participation of business community representatives in meetings of working groups created by the EEC and governments of third countries and regional integration associations according to the concluded memoranda of cooperation. The members of the EAEU Business Council could act as coordinators in this structure, which would offer the possibility to better take into account businesses' interests and respond to proposals from business and formal organizations in a more flexible manner.
The pilot project of such interaction would be the business community's involvement in developing the Program of cooperation between the EEC and the ASEAN to be formed until 2025. In addition, Director of EEC Integration Development Department, Goar Barsegyan, proposed the EAEU Business Council and business community representatives to put forward specific initiatives at the upcoming meeting on the EAEU international activities in November 2020.
Along with the existing EEC mechanisms for taking into account and promoting businesses' interests, the expansion of the business community's involvement in implementing the programs of interaction with partners from third countries and regional associations will jump-start efforts to ensure the business component of our external contacts.