09.12.2022 (Обновлено: 14.12.2022 16:12)

EAEU common market of services expanding

Since January 1, 2023, fourteen service sectors, including meteorological services, household and other support services, will move to the format of the common market of the Eurasian Economic Union.

Creating a common market of services (CMS) helps to increase the competitiveness of goods, works and services, reduce prices and tariffs for consumers, reduce the service providers' costs arising from re-obtaining permits, establishing a legal entity, confirming the personnel qualifications and the cost of maintaining a legal entity.

Since 2015, 128 service sectors have already gradually transferred to the CSM format, including such significant areas for the EAEU countries' economies as construction and tourism services and many others.


For reference

The single market for services is the state of a specific service sector wherein the sides do not apply discriminatory, quantitative and other restrictions, but permits and qualifications are recognized and the possibility is provided to supply services throughout the Union without an additional institution in the form of a legal entity.