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Goar Barseghyan: “Industrial cooperation is a growth driver in the EAEU real economy”
The industrial sector is a key priority of the new stage of the Eurasian economic integration and traditionally acts as a growth driver in the real economy of the Eurasian Economic Union. This was stated by Goar Barseghyan, Minister in charge of Industry and Agriculture of the Eurasian Economic Commission, at the congress of the Russian Union of Industrialists and Entrepreneurs.
“Introduction of the financial support mechanism for cooperative projects has become one of the significant achievements of the current integration stage. Since June 2024, the EAEU has launched a pilot mechanism for subsidizing interest rates on loans and credits aimed at implementing joint cooperative projects,” the EEC Minister noted.
Goar Barseghyan presented the first two projects approved by the Commission's Council: Murom Railway Switch Plant to manufacture products for the construction of the Moscow – St. Petersburg High-Speed Railway and Kazrost Engineering Ltd. to expand the production of agricultural machinery in the Republic of Kazakhstan involving enterprises from other EAEU countries.
“At present, on the instructions of the Heads of Government of the Member States, the Commission works on expanding the financial support mechanism for cooperation in the agricultural sector. The criteria and sources of such support are discussed jointly with the business community, with due regard to the specific nature of the agricultural sector,” Goar Barseghyan noted, adding that the EEC continues to work on creating conditions for sustainable growth and deepening integration in the interests of all the Member States.
The EEC Minister invited representatives of the business community and business associations of the EAEU countries to actively participate in the practical implementation of this supranational instrument, which provides great opportunities for strengthening economic cooperation and developing industrial potential.
