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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»

22 Apr 2025 EEC and ESCAP Ready To Sign New Memorandum of Understanding The Eurasian Economic Commission and the Economic and Social Commission for Asia and the Pacific (ESCAP) confirmed their readiness to expand their cooperation further and sign a new memorandum of understanding. This became known during the ESCAP session, which opened on April 21 in Bangkok (Thailand), where Bakhyt Sultanov, EEC Minister in charge of Economy and Financial Policy, made a presentation on the achievements and prospects of the Eurasian economic integration. "The impact of integration processes taking place in the Eurasian Economic Union goes beyond its Member States, having a positive effect on neighboring regions, including Central Asia," Bakhyt Sultanov stressed. The EEC representative noted that the Union promotes sustainable development in the Eurasian region, supporting a number of key processes related to the free movement of goods, services, capital and labor, investment cooperation, creation of an efficient transport and logistics network. Within his visit, the EEC Minister met with Armida Salciah Alisjahbana, UN Under-Secretary-General, Executive Secretary of UNESCAP. They discussed relevant matters of cooperation in the context of implementing the Sustainable Development Goals. The UN Under-Secretary-General noted that ESCAP is interested in expanding cooperation in various areas with the EEC, as well as with the EAEU countries. Bakhyt Sultanov emphasized the importance of intensifying cooperation to overcome current challenges and adapt to global changes. Regarding the conclusion of the Memorandum of Understanding, the parties confirmed that it will include new priorities and objectives for cooperation, taking into account the need to adapt to global changes. The signing of the document will be an important step in strengthening the partnership between the EEC and ESCAP. The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) is the largest of the United Nations regional commissions. ESCAP is composed of 53 states, including Armenia, Kazakhstan, Kyrgyzstan, Russia and Uzbekistan. The interaction between the EEC and UNESCAP is based on the Memorandum of Understanding signed on May 17, 2019 in Kazakhstan. 
26 Feb 2025 Bakhyt Sultanov: "We plan to involve more entrepreneurs in economic dialogue" On February 26, Bakhyt Sultanov, Minister of Economy and Financial Policy of the Eurasian Economic Commission, chaired a meeting of the EEC representatives with the Belarusian business community. Representatives of the Commission answered questions from entrepreneurs concerning a wide range of aspects related to the functioning and development of the Eurasian Economic Union. "Entrepreneurs should be the main beneficiaries of Eurasian economic integration and the driver of integration processes, ensuring the practical relevance of EAEU law. We recently held a meeting with entrepreneurs from Russia, last year we met with businesses from Armenia and Kazakhstan. We plan to hold such meetings on a regular basis, not only in the capitals of the Member States, but also in other cities to involve more economic entities in this economic dialogue", mentioned Bakhyt Sultanov. The EEC Minister spoke about the measures taken by the Economic and the Commission's Financial Policy Unit to improve the EAEU business environment. On a separate note, he told about the possibilities for entrepreneurs to participate in the procedures for assessing the impact of regulation on the business environment, including regulatory impact assessment (RIA) and actual impact assessment. "The share of Belarusian business participants in the public discussion of the Commission's draft decisions has been in the range of 26 to 32 percent in recent years. This figure is quite high, which shows wide involvement of entrepreneurs from the Republic of Belarus in the RIA procedures," reported Bakhyt Sultanov. The EEC Minister invited entrepreneurs to participate in the meeting of the Advisory Council on Interaction between the Commission and the EAEU Business Council this year within the framework of the Eurasian Economic Forum. Ernar Bakenov, Director of the EEC Business Development Department, presented information on the resolution of problematic issues previously identified by the business community of Belarus. In particular, he stressed the progress in promoting cooperation projects, ensuring free access of goods to the markets of the EAEU countries, improving the law of the Union in the areas of intellectual property and liberalizing trade in services.
17 Feb 2025 Bakhyt Sultanov: "EEC creates conditions for efficient use of the EAEU integration potential by businesses" Bakhyt Sultanov, Minister in charge of Economy and Financial Policy of the Eurasian Economic Commission, spoke about the launch of new mechanisms for assessing the impact of regulation in the Eurasian Economic Union on the business environment at the Integration Forum of the Russian Business Week 2025 "EAEU to 2030: Goals, Mechanisms, Challenges in Business and Government Interaction". The event was held on February 17 at the Russian Union of Industrialists and Entrepreneurs (RUIE) in Moscow. The EEC Minister noted that the new mechanisms include, inter alia, assessment of the actual impact of the Commission's decisions and regulatory impact assessment of draft international treaties. According to him, during the ten years of the Union's activity, more than 60% of the business proposals received have been taken into account when developing EEC regulations. "We constantly work to improve the business environment for entrepreneurs in our countries. The most important task is to take into account the opinion of businesses when developing new norms and regulations," the EEC Minister emphasized. Bakhyt Sultanov highlighted the current problems of the business community and presented an analytical tool for assessing the impact of Eurasian economic integration on the business environment. In addition, the EEC Minister reported on the liberalization of trade in services, economic cooperation in tourism, introduction of a traceability mechanism for goods from third countries and ensuring freedom of labor movement. "We have reformatted the work of the Advisory Council on interaction between the Commission and the EAEU Business Council, having switched to communication in a single window mode," mentioned Bakhyt Sultanov.       He put forward the initiative to hold the next meeting of the Advisory Council in May this year in the face-to-face format as part of the business program of the Eurasian Economic Forum. The forum was attended by EEC ministers, heads of Russian public authorities, members of the Presidium of the EAEU Business Council, and major Russian business entities.
12 Feb 2025 Agreement on Cross-Border Admission to Placement and Circulation of Securities signed The Heads of Government of the Eurasian Economic Union States signed an agreement on cross-border admission to the placement and circulation of securities in on-exchange trading within the EAEU. Thus, an important step has been made towards the creation of a unified exchange space in the Union. The agreement is designed to ensure the freedom of issuing and trading operations with securities (shares and bonds), conditions for growing liquidity of exchange markets, as well as to strengthen trade and investment cooperation. Bakhyt Sultanov, Minister in charge of Economy and Financial Policy of the Eurasian Economic Commission, noted that the subject of the Agreement is to ensure cross-border admission of securities, harmonization of procedures for mutual recognition of their issue and admission to the stock exchanges of the Union. "A distinctive feature of cross-border admission is that securities of issuers from one Member State are admitted to placement, including in parallel (simultaneously on several stock exchanges), and circulation in on-exchange trading in another EAEU State," the EEC Minister stressed. The exchange provides cross-border admission under a number of conditions. Primarily, the securities emission must be registered in accordance with the laws of the country where the issuer is registered. In addition, the issued securities need to be listed in the highest category on the stock exchange of that country. The highest category quotation list includes only those securities that meet the strictest requirements set by the exchange for admission to placement and circulation in on-exchange trading. The EEC Minister said that the Agreement lays the foundation for a common organized securities market. At the same time, mutual recognition of securities emission will provide a possibility to increase liquidity on the stock exchanges of the EAEU States. Public securities registered by the authorized authority are placed according to a unified specification on any exchange platform, allowing significantly reduced regulatory costs for registering the emission and reporting it. "When implemented, the Agreement will facilitate free movement of capital, boost investment activity, increase the volume of exchange trading in securities and develop financial markets of the Union States," summarized Bakhyt Sultanov. The signed Agreement has been sent to the EAEU countries to undergo internal legal procedures necessary for its entry into force.
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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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