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Economy and financial policy

  • Member of the Board – Minister in charge of Economy and Financial Policy
Member of the Board – Minister in charge of Economy and Financial Policy Bakhyt Sultanov
Reception office Tel. 8 (495) 669-24-07

News on «Economy and financial policy»

17 Jun 2025 EEC strengthens international cooperation on labor migration and healthcare Bakhyt Sultanov, Minister in charge of Economy and Financial Policy of the Eurasian Economic Commission, took part in the Forum of the Global Coalition for Social Justice held as part of the session of the International Labor Conference. The event, organized by the International Labor Organization (ILO), was attended by representatives of government agencies, businesses, trade unions and academia. According to the EEC Minister, one of the fundamental freedoms of the Eurasian Economic Union is the freedom of labor movement. "Citizens of the Union countries can freely move and work in any of the Five countries, quotas have been abolished, diplomas and academic degrees of all EAEU countries are mutually recognized, migrant workers are protected by social and pension guarantees," noted Bakhyt Sultanov. Today, the common labor market in the EAEU is 100 million workers who have access to mandatory health insurance (in those countries where the MHI system operates, namely Kazakhstan, Kyrgyzstan and Russia) on an equal footing with citizens of the host country. Migrants are also provided with mandatory insurance in case of temporary disability and maternity, as well as mandatory insurance against occupational accidents and diseases. A significant role in developing the labor market is played by the pension benefits for workers, which are regulated by a separate Pension Agreement from 2021. The document allows labor migrants to create, maintain and exercise their pension rights in all countries of the Union. "Pensions are paid regardless of which EAEU country a pensioner resides in, and his or her time in employment in all countries of the Union is taken into account. This significantly increases the social security of retired migrants," explained the EEC Minister. On the sidelines of the Forum, Bakhyt Sultanov met with Dr. Santino Severoni, Director of the WHO Global Health and Migration Program, and Dr. Daniel Míč, Technical Officer of the WHO Global Health and Migration Program. The two sides summed up the outcomes of their joint work and identified new areas of cooperation. One of the discussion topics was the WHO analytical report on the health of labor migrants in the EAEU countries. The document will systematize best practices and make recommendations to improve health care for workers moving between the Member States. The two sides also discussed the development of digital medicine, including the introduction of telemedicine technologies, artificial intelligence and other innovative solutions in the healthcare systems of the Union countries. "We are pleased that our partnership with WHO is reaching a new level — from the exchange of experience to the implementation of concrete projects in the field of medicine of the future and protection of migrant workers' rights," summarized the EEC Minister.  
05 Jun 2025 EEC and UNCITRAL continue dialogue on international trade law The Eurasian Economic Commission jointly with UNCITRAL held the second webinar on relevant matters of international trade law, which was attended by representatives of authorized authorities from the Eurasian Economic Union countries. UNCITRAL experts presented key developments in a number of areas. These include insolvency (bankruptcy) law, international mediation and arbitration, as well as investor-state dispute settlement reform. Lusine Tumyan, Deputy Director of the EEC Business Development Department, noted that in the context of rapid transformation of the global economy, international trade law plays an increasingly important role. "Dialogue between the EEC and UNCITRAL is aimed at the development of interaction to tap into the best international practices in this area. We see great value in sharing experience and working jointly to improve international trade law," noted Lusine Tumyan.    The Commission's representative emphasized the importance of active dialogue between the EAEU states and UNCITRAL, which, in her opinion, allows the countries not only to keep abreast of current trends and global initiatives, but also to participate in establishing international legal standards. The discussion allowed the participants to expand their knowledge of UNCITRAL mechanisms and instruments, as well as discuss practices of international trade law application within the EAEU. UNCITRAL is the United Nations Commission on International Trade Law. It was established in 1966 to promote the unification and harmonization of international trade law. It is the main legal body of the United Nations in the field of international trade law. The first webinar jointly organized by the EEC and UNCITRAL was held on May 26 this year.
30 May 2025 Bakhyt Sultanov: "It is important to maintain a balance of interests between the use of artificial intelligence and the protection of rightholders" Bakhyt Sultanov, Minister in charge of Economy and Financial Policy of the Eurasian Economic Commission, spoke at the Astana International Forum about the possibilities and risks associated with the introduction of artificial intelligence (AI) in various sectors of the Eurasian Economic Union's economy. Speaking at the panel session "Intellectual Property in the Era of AI", Bakhyt Sultanov touched upon the issues of dividing the rights and liability in respect of works created using AI. He emphasized the difficulties in determining authorship, as well as the need to develop clear rules and regulations concerning the use of artificial intelligence technologies in scientific and innovative activities. Bakhyt Sultanov underscored the importance of developing international standards and agreed approaches in this area, noting that the EAEU countries are actively working on the creation of national legislative initiatives: Kazakhstan has adopted the Concept for Artificial Intelligence Development for 2024-2029, Belarus is developing a law on artificial intelligence and Russia is implementing the National Strategy until 2030. The Minister drew attention to the fact that the issues of legal protection and enforcement of rights to intellectual property items created using AI are widely discussed by the global community. The Eurasian integration association is developing a draft Action Plan for the implementation of the Eurasian Economic Path Declaration, which includes the elaboration of possible approaches to the legal protection of such items. "At the same time, it is important to maintain a balance of interests between the use of artificial intelligence and the protection of rightholders," mentioned Bakhyt Sultanov. On the sidelines of the Forum the EEC Minister met with Daren Tang, Director General of the World Intellectual Property Organization. The meeting discussed cooperation within the framework of the Memorandum of Understanding between the organizations and considered the possibility of holding joint events dedicated to the Eurasian economic integration in the context of intellectual property protection and safeguarding. "The Commission constantly monitors trends in the trafficking in counterfeit goods and the practice of combating violations of intellectual property rights in the EAEU. Annually, we prepare a report that includes data on identified infringements and recommendations for improving law enforcement practice," Bakhyt Sultanov reported. The EEC Minister also met with Amy Pope, Director General of the International Organization for Migration (IOM). Today, the Commission and the IOM Regional Office are working on a Joint Statement based on the existing Memorandum of Cooperation between the organizations and the Global Compact for Safe, Orderly and Regular Migration, to which all EAEU countries have joined.
30 May 2025 EEC and ITIC deepen cooperation On the sidelines of the Astana International Forum, there was a meeting between Bakhyt Sultanov, Minister in charge of Economy and Financial Policy of the Eurasian Economic Commission, and Daniel Alan Witt, President of the International Tax and Investment Center (ITIC). It is worth noting that this is the first business contact between the organizations since the end of the COVID-19 pandemic. The parties expressed their intention to continue cooperation within the framework of the existing Memorandum of Understanding, which, in particular, provides for regular joint activities on tax policy and administration. The possibility of exchanging information and analytical materials on digitalizing tax administration and adaptation of its procedures to the conditions of digital and globalized economy, as well as best practices of integration associations on harmonization of excise taxation were discussed. "I am confident that our meeting will help develop a dialogue between the EEC and ITIC on the discussed areas, will contribute to the improvement of the investment climate and business environment within the EAEU, as well as the implementation of new joint projects for the benefit of Eurasian integration," summarized Bakhyt Sultanov. ITIC is an independent non-profit research and education organization founded in 1993 to promote tax reform and public-private initiatives to improve the investment climate in transition and developing economies. The Memorandum of Understanding between the EEC Advisory Committee on Tax Policy and Administration and ITIC was signed in 2013 and its updated version was signed in 2017. On the Commission's part interaction with ITIC is coordinated by the Financial Policy Department.
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Decisions on «Economy and financial policy»

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02/11/2025 12:00:00 am Решение Коллегии ЕЭК № 14 О технологических документах, регламентирующих информационное взаимодействие при реализации средствами интегрированной информационной системы Евразийского экономического союза общего процесса «Регистрация, правовая охрана и использование товарных знаков и знаков обслуживания Евразийского экономического союза»
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10/03/2024 12:00:00 am Распоряжение Коллегии ЕЭК № 159 О проекте Соглашения о сервисе, позволяющем осуществлять поиск информации об объектах промышленной собственности, охраняемых в государствах – членах Евразийского экономического союза
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07/30/2024 12:00:00 am Решение Коллегии ЕЭК № 87 О технологических документах, регламентирующих информационное взаимодействие при реализации средствами интегрированной информационной системы Евразийского экономического союза общего процесса «Регистрация, правовая охрана и использование наименований мест происхождения товаров Евразийского экономического союза»
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06/18/2024 12:00:00 am Распоряжение Коллегии ЕЭК № 89 О проекте Соглашения о согласованных подходах к борьбе с нарушениями прав на объекты интеллектуальной собственности в информационно-телекоммуникационной сети «Интернет»
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06/20/2023 12:00:00 am Решение Коллегии ЕЭК № 81 Об утверждении Правил реализации общего процесса «Регистрация, правовая охрана и использование наименований мест происхождения товаров Евразийского экономического союза»

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14 Dec 2016 The interview of the Minister on the technical regulation of the EEC Valery Koreshkov with BELTA news agency on establishment of the common market of medicines in the Eurasian Economic Union Medicines is the first group of specific goods, with which the EAEU countries started to work closely by the beginning of the functioning of the common market. Using this experience, the EAEU will form other common markets - for finances, energy, oil and gas, and so on. The BELTA journalist discussed with the EEC Board Member - Minister in charge of technical regulation Valery Koreshkov, what stages are yet to be covered and how the common market of medicines will work.​
14 Dec 2016 the Minister in charge of Economy and Financial Policy, Doctor of Law Askar Kishkembaev with the newspaper “Kazakhstanskaya Pravda”: “Integration initiatives of the independent Kazakhstan in the post-Soviet space. View from Moscow” In just a few days Kazakhstan will celebrate the main national holiday of the Republic, the Kazakhstan’s Independence Day. On this day in 1991, the Supreme Council of the country adopted a law on the Republic’s independence and state sovereignty of Kazakhstan.
Minister in charge of energy and infrastructure of the Eurasian Economic Commission Adamkul Zhunusov answered questions of 09 Nov 2016 Minister in charge of energy and infrastructure of the Eurasian Economic Commission Adamkul Zhunusov answered questions of "RUSARMINFO" and shared his view on the level of integration of Armenia in the common energy market of the Eurasian Union ​​How do you estimate the level of integration of Armenia in the common energy market of he EAEU? And what are the objective possibilities of development? ​
Interview of the Minister in charge of Economy and Financial Policy Timur Suleimenov to BelTA Information Agency: “Belarus plays a key role in all integration processes in the EAEU” 24 Oct 2016 Interview of the Minister in charge of Economy and Financial Policy Timur Suleimenov to BelTA Information Agency: “Belarus plays a key role in all integration processes in the EAEU” For two years, Belarus, Russia, Kazakhstan, Armenia and Kyrgyzstan have been living in conditions of the Eurasian Economic Union, facing certain challenges and trying to resist them together. At the end of October, another large meeting within the Union will be held in Minsk - a meeting of the Eurasian Intergovernmental Council. On the eve of this important event, BELTA reporter met with the EEC Board Member - Minister in charge of Economics and Financial Policy Timur Suleimenov to find out what the year of 2016 was like, how the EAEU will address issues of parallel imports and establish the rates of customs duties and what measures have been taken to establish the common financial market.​
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