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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.
10 Feb 2025 WIPO presented comprehensive review of intellectual property infringements in EAEU The main results of the annual intellectual property enforcement practice in the countries of the Eurasian Economic Union based on the report of the Eurasian Economic Commission prepared in 2024 were presented by Nurjamal Ilyasova, Deputy Director of the EEC Business Development Department​, at the specialized session of the World Intellectual Property Organization (WIPO) Advisory Committee on Enforcement at the WIPO headquarters in Geneva. In 2023, 4,667 violations in the field of intellectual property were recorded in the EAEU countries, and 5.8 million counterfeit goods were detected. The vast majority of infringements concern trademark rights — over 91%, or 4,256 cases. They are followed by copyright and related rights infringements — about 8%, or 366 cases — and patent rights infringements — 0.1%, or 5 cases. "In total, over 46,000 infringements in the field of intellectual property have been identified in the EAEU countries over the past five years, and more than 60 million counterfeit goods have been seized," said Nurjamal Ilyasova. It is worth noting that the Commission's report takes into account the information provided by the authorized authorities of the Member States. Jointly with them, the EEC does everything in its power to make the situation in this area as transparent as possible. This helps take the most effective measures to prevent counterfeit goods from entering the EAEU common market and to eliminate the consequences that ensue. WIPO is a specialized agency of the UN system, having 193 Member States. In 2019, the EEC and WIPO concluded a Memorandum of Understanding. The Advisory Committee on Enforcement was established by the WIPO General Assembly in 2002 with a mandate to provide technical assistance and coordination in the area of intellectual property enforcement.
28 Jan 2025 EAEU creating conditions for harmonized regulation of securities market activities On January 27, the Board of the Eurasian Economic Commission approved the draft recommendation of the EEC Council "On Coordinated Proposals for Harmonizing the Legislation of the EAEU Member States in Terms of Basic Concepts and Definitions Used in the Regulation of the Securities Market and the Establishment of Requirements for Market Intermediaries (Brokers) in the Securities Market". The Recommendation and agreed proposals were developed in accordance with the Treaty on the EAEU, Annex No. 17 to the Treaty (Protocol on Financial Services), the Concept for the Formation of the Common Financial Market, the Agreement on Harmonizing the Legislation and the Action Plan on Harmonizing the Legislation of the Union States in the Financial Market Field. The document contains recommendations to the Union States when improving national legislation in the field of securities market regulation and developing international treaties to take into account the agreed proposals on harmonization of basic concepts and definitions of the legislation, as well as establishing requirements for brokers in the securities market. Bakhyt Sultanov, the EEC Minister in charge of Economy and Financial Policy, noted that the agreed proposals on harmonization were prepared following comparative legal analysis of the current legislation in the EAEU States. "This is an important step towards creating a common financial space, which will ensure transparency and mutual trust in our market," emphasized Bakhyt Sultanov. The agreed proposals on harmonizing the legislation set out recommended approaches to regulating requirements for brokers in the securities market in terms of financial indicators, risk management systems, internal supervision, broker organizational structure, interaction with clients and the regulator, as well as reporting and disclosure of information. The recommendations and agreed proposals on harmonizing the legislation approved by the Board will be submitted for approval to the Commission's Council.
26 Dec 2024 Heads of EAEU Countries Discussed Functioning of Common Market of Services At the meeting of the Supreme Eurasian Economic Council on December 26 in the Leningrad region (Russian Federation), the Heads of State of the Eurasian Economic Union reviewed the reports of the Eurasian Economic Commission on the functioning of the common market of services and on the liberalization of certain sectors of services within the association. The report on the functioning of the common market of services highlights the key stages of its formation and the current situation, and identifies the obstacles removed on the way to barrier-free access for service providers from the EAEU states. In addition, it points out the possibilities for further development of the common market of services and describes advantages for businesses of the Union's countries. Proposals resulting from the report will be used by the Commission and regulators of the participating countries to improve the mechanisms of liberalization of trade in services, contributing to the formation of a full-fledged common market. Commenting on the document, Bakhyt Sultanov, EEC Minister in charge of Economy and Financial Policy, noted that today there are 142 sectors in the EAEU common market of services, which is about 31% of all service sectors. "This shows that there is a potential for its growth and allows us to outline directions for further work to form and ensure the full functioning of the EAEU common market of services," the EEC Minister emphasized. In the report on the implementation of liberalization plans, the key areas of focus are services in tourism, meteorology, surveying, property valuation, construction and motion pictures. As a result of implementing the plans for 18 sectors, 10 of them have been transferred to the common market for services, and the transfer of two more sectors — underground and ground surveying services — is in its final stages. "The Commission is actively engaging with the Union countries to conclude administrative cooperation agreements between competent authorities in eight other sectors. This cooperation will enable additional support for the successful functioning of these sectors in the common market mode," summarized Bakhyt Sultanov.
12 Dec 2024 EAEU Countries Discussed Creation of Common Financial Market and Improvement of Union Law on Finance The Advisory Committee on Financial Markets under the Board of the Eurasian Economic Commission discussed approaches to the creation of a common financial market and harmonization of legislation in the field of financial services. The meeting was held in Moscow at the EEC headquarters under the chairmanship of Bakhyt Sultanov, Minister in charge of Economy and Financial Policy of the Commission. The concept of creating the EAEU common financial market provides for the introduction of a standardized license mechanism, which will ensure mutual access to the markets for financial service providers through subsidiaries and their commercial presence. A standardized license is a special permit issued by the financial regulator of the parent organization's home country. According to Bakhyt Sultanov, this document is aimed at enabling mutual recognition of licenses for activities in the banking and insurance sector. In addition, it is intended to improve the availability, quality and diversity of financial services for legal entities and natural persons, as well as to develop competition in the financial market. "The agreement defines the procedure and conditions for issuing a standardized license, requirements to the applicant and the licensee, the procedure for establishing or acquiring a subsidiary," the EEC Minister stressed.  The draft Agreement establishes mutual admission of financial service providers, including banks and insurance companies, to national financial markets, which will simplify the process of establishing or acquiring a legal entity in the form of a subsidiary. In addition, the members of the Advisory Committee considered the draft recommendation of the EEC Council on agreed proposals to harmonize the legislation of the Union states in terms of basic concepts and definitions in the field of securities market regulation and establishing requirements to market intermediaries (brokers). The meeting participants were informed about the work on draft recommendations of the Commission's Council aimed at harmonizing the legislation regulating admission of banks and insurance companies to the common financial market, establishing requirements to market intermediaries (dealers), developing the infrastructure for exchange trading in securities, improving measures to combat money laundering.
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