Reference information about the Advisory Council on Interaction Between the Eurasian Economic Commission and the Business Council of the Eurasian Economic Union

EEC
Advisory Bodies
Reference information about the Advisory Council on Interaction Between the Eurasian Economic Commission and the Business Council of the Eurasian Economic Union

In view of enacting the Treaty on the Eurasian Economic Union and acceding of the Republic of Armenia and the Kyrgyz Republic to the Eurasian Economic Union since January 2, 2015, the Atameken National Chamber of Entrepreneurs of the Republic of Kazakhstan has put forward an initiative to establish the Business Council of the Eurasian Economic Union (hereinafter, the EAEU Business Council).

The idea of establishing the EAEU Business Council was unanimously supported by the largest business associations of the EAEU countries, which was also confirmed during the fifth meeting of the Advisory Council on Interaction Between the Eurasian Economic Commission and the Belarusian-Kazakh-Russian Business Community held on April 2, 2015.

The Agreement on establishing the EAEU Business Council was signed during the 8th Astana Economic Forum held on May 21, 2015 by the following Parties:

- Atameken National Chamber of Entrepreneurs of the Republic of Kazakhstan;

- The Russian Union of Industrialists and Entrepreneurs;

- The Union of Non-Profit Organizations "Confederation of Industrialists and Entrepreneurs (Employers)" of the Republic of Belarus;

- The Union of Manufacturers and Businessmen (Employers) of Armenia;

- The Union of Entrepreneurs of Kyrgyzstan.

The EAEU Business Council has been established to expand integration processes in the Eurasian Economic Union space and arrive at consensus on relevant matters of cooperation and formation of the common economic space within the EAEU.

In accordance with the Agreement on establishing the EAEU Business Council, the EAEU Business Council is the legal successor of the Belarusian-Kazakh-Russian Business Dialogue.

Following the first meeting of the Presidium of the EAEU Business Council held on November 26, 2015 in Minsk, the Business Council’s Presidium approved a draft Memorandum of Interaction between the Eurasian Economic Commission and the Business Council of the Eurasian Economic Union.

The Memorandum of Interaction between the Eurasian Economic Commission and the Business Council of the Eurasian Economic Union, which replaced the Memorandum of Interaction between the Eurasian Economic Commission and the Belarusian-Kazakh-Russian Business Dialogue, was approved by Disposition No. 14 of the Commission’s Board dated February 9, 2016 and signed on May 24, 2016 in Astana.

In accordance with the Memorandum, the EEC and the EAEU Business Council interact within the Advisory Council on Interaction between the Eurasian Economic Commission and the Business Council of the Eurasian Economic Union (hereinafter, the Advisory Council).

The decision to establish the Advisory Council was adopted by the EEC Board on October 25, 2016. The Regulation on the Advisory Council was approved.

The Advisory Council is an advisory body ensuring interaction and dialogue between the Eurasian Economic Commission and the Business Council of the Eurasian Economic Union on determining the directions and prospects for further development of business activities.

The Advisory Council ensures interaction in the following areas:

a) integration development and macroeconomics;

b) business development;

c) financial markets (banking, insurance, currency market, security market)

d) manufacturing industry;

e) agricultural sector;

f) mutual and foreign trade;

g) common technical regulation;

h) sanitary, veterinary-sanitary and phytosanitary quarantine measures;

i) customs regulation;

j) energy;

k) natural monopolies;

l) transport and shipping operations;

m) labor migration and migration policy, social, pension and medical support, education and professional activity of workers of the Union Member States;

n) competition development and antitrust regulation

o) intellectual property;

p) informatization, information and communication technologies and information exchange;

q) digital space development and digital economy transformation;

r) removal of barriers, exceptions and restrictions within the internal markets functioning;

s) circulation of medicines and medical products;

t) other areas within the competence of the Memorandum parties.

Regulation

Minutes of Meetings of the Advisory Council on Interaction Between the Eurasian Economic Commission and the Business Council of the Eurasian Economic Union