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EAEU Heads of State signed Declaration on further development of economic processes "Eurasian Economic Path"
At the meeting of the Supreme Eurasian Economic Council held on December 25 in St. Petersburg, the Heads of State of the Eurasian Economic Union signed the Declaration on further development of economic processes within the EAEU until 2030 and for the period until 2045 "The Eurasian Economic Path".
Earlier, the Russian Federation put forward an initiative to prepare new long-term planning documents for the EAEU development within its chairmanship in the Union's governing bodies in 2023.
The Declaration defines the Union's objectives for the medium term until 2030 on the way to transforming the EAEU by 2045 "into a self-sufficient, harmoniously developed and attractive to all countries of the world macro-region, possessing economic, technological and intellectual leadership and maintaining a high standard of living of the Member States' population".
The document contains six directions:
- providing the common market with key goods and resources and its efficient functioning;
- forming a common space of cooperative interaction and cooperation in the field of technological development;
- forming a common transport and logistics space;
- forming a common financial market;
- developing economic cooperation in the fields with integration potential;
- the EAEU functioning as a pole of economic attraction in the international arena.
In order to solve the set objectives, the key areas of the EAEU development in the fields of economic interaction have been identified, providing for both the improvement of existing mechanisms and new mechanisms: the use of natural resources for developing cooperative potential, the development of digital technologies, unlocking the potential of artificial intelligence systems and ensuring its application, the introduction of innovative approaches in the agricultural sector and others.
“Implementing these objectives should be accompanied by an improvement in the Eurasian Economic Commission's operating efficiency, including by strengthening the responsibility for the adopted decisions, increasing the transparency of the Commission's work, improving the procedures for rotating the Board's members and forming the Commission's staff, including ensuring equal opportunities for the Member States' nationals to occupy vacant positions of the Commission's employees on the condition of independent competitive selection, their professional activity based on the principles of independence and impartiality, and equal working conditions," the document says.
The Commission, jointly with the Union States, is instructed to elaborate and submit for approval in 2025 a draft road map for implementing the Declaration.
