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Andrey Slepnev, Minister in charge of Trade of the Eurasian Economic Commission, declared this on the floor of the “New architecture of the EAEU trade and economic interaction” session held as part of the “Made in Russia 2023” international export forum organized by Russian Export Center (REC) JSC.

“While creating the EAEU, we studied the EU experience. The Europeans themselves claimed their Union to be an option intended specifically for fair-weather conditions. Whereas our Eurasian Economic Union appears to be the option intended for any weather conditions, including not very favorable ones,” the minister pointed out while mentioning the challenges successfully responded amidst the COVID-19 pandemic and economic sanctions imposed on the Member States.

According to him, we are in for the large-scale trials that extend to positioning ourselves in the new multipolar world. It is up to the Eurasian Economic Union to take a stable and competitive place in it.

“The second challenge to be responded includes the industrial revolution, climate, technology, new economy, and so on. This is what lays the foundation for a hundred of years ahead. We need to find solutions that would let us work by joining efforts with our partners both inside and outside the Union,” Andrey Slepnev went on to say. In this regard, he mentioned the international trade rules being revised. Tariff barriers keep being discussed. They are established in the context of climate and border regulation, as well as non-tariff barriers, when in order to supply goods to another country, one needs to have approvals or undergo certification, with all the processes following different rules and standards.

“We need to take pains working jointly with our friends around the world to prevent new barriers and dividing lines from arising. This will make it possible for us to trade well and develop well,” emphasized the EEC Minister in charge of Trade.

Switching to a new system of relations, when people and small businesses increasingly declare their interests and get involved in development, was claimed to be the third challenge. Andrey Slepnev believes that the issue of communication with people needs to be addressed. Otherwise, there will be no support, and, consequently, no progress.

“What practical steps can we make as a Union? The Eurasian SME Cooperation Program would be in great demand. It gives rise to many discussions, which is very positive,” the minister reported.

E-commerce holds a special place in the context of Eurasian integration. To-date, the share of goods from Belarus, Kazakhstan, Armenia and Kyrgyzstan is as high as 50% on the major EAEU marketplaces. At the same time, the total volume of the e-commerce marketplace is currently 90 billion US dollars, with 90% of players being small and medium-sized businesses. This segment needs to be developed by addressing the existing problems.

As regards foreign trade considerations, Andrey Slepnev claimed the concept of the Greater Eurasian Partnership introduced by Vladimir Putin, the President of the Russian Federation, to remain relevant. “At the same time, we see the Greater Eurasian Partnership to be non-uniform. It has several directions. The European direction appears to be stagnant - hopefully, temporarily. However, we have an extremely promising southern direction along the North-South corridor,” explained the EEC Minister in charge of Trade.

Furthermore, he believes having a full-fledged economic corridor rather than a transport corridor to be reasonable. A multi-sectoral dialogue is needed to get the transport workers and industrialists to sit down at the table and discuss technological sovereignty, cooperation and logistical arrangements.

Speaking about partnership with China, Andrey Slepnev said that currents events need to be given a thorough consideration. Last year, trade with China increased by 30%, while this year, it increased by only about 27%. “We are concerned about certain things, including the trade structure, which repeats what we had with Europe in many ways. At the same time, seeing our own potential is crucial: great many goods from the Eurasian Economic Union have excellent prospects in China. We need to develop these prospects,” the EEC Minister expressed his confidence.

He told the EAEU to be involved in evaluating the possibilities of restructuring the cooperation with China, as well as various scenarios for its deepening, including partial trade liberalization. According to the minister, China is a strategic partner, while the framework set by the current Agreement on Trade and Economic Cooperation for the Union and China needs to be developed.

The session was also attended by Alexey Overchuk, Deputy Chairman of the Government of the Russian Federation, Chairman of the EEC Council, Tigran Sargsyan, Deputy Chairman of the Board of the Eurasian Development Bank, Alexey Mordashov, Chairman of the Board of Directors of Severstal, Dmitry Krutoy, Ambassador Extraordinary and Plenipotentiary of the Republic of Belarus to the Russian Federation, Kazem Jalali, Extraordinary and Plenipotentiary Ambassador of the Islamic Republic of Iran to the Russian Federation.