16 Jun 2025 Maxim Ermolovich: "Creation of a common exchange market for commodities within the EAEU will increase the level of economic interaction in the Five countries" Maxim Ermolovich, Minister in charge of Competition and Antitrust Regulation of the Eurasian Economic Commission, participated in the annual general meeting of the International Association of Exchanges. The issues of exchange trade development were discussed, as well as the initiative to create the Inter-exchange Union of the SCO countries. EEC Minister reported on the preparation of the program for developing exchange trading in the common exchange (organized market) of goods within the Eurasian Economic Union. "Implementation of the program will require harmonizing the regulatory and legal framework of the Member States, unifying exchange trading rules, eliminating barriers and restrictions, as well as developing exchange infrastructure," Maxim Ermolovich noted. The Commission attaches great importance to the creation of a common exchange market for the Union's commodities in terms of promoting competition and improving pricing efficiency.  The event was attended by representatives of exchanges from the CIS, Europe, Asia, Latin America and Africa. The International Association of Exchanges (IAE) was established in Moscow in 2000 for coordinated efforts to develop organized financial and commodity markets in accordance with international standards. The IAE comprises 16 leading financial and commodity exchanges from nine CIS countries, including the EAEU States.
16 Jun 2025 Vahagn Ghazaryan: "Digitalization of processes in the EAEU serves as an example of successful integration of modern technologies into international trade" This was stated by Vahagn Ghazaryan, Director of the Tariff and Non-Tariff Customs Regulation Department of the Eurasian Economic Commission, speaking at the session Shaping Trade Digitalization in the Eurasian Economic Union (EAEU) and Its Partners within the framework of the Paperless Trade Week 2025 under the auspices of the UN Economic and Social Commission for Asia and the Pacific (ESCAP) in Bangkok (Thailand). "Digitalization as a fundamental part of modern reality is one of the key tools ensuring the growth of the EAEU economy," mentioned the EEC representative. According to Vahagn Ghazaryan, among the important aspects of digitalizing trade within the EAEU are the introduction of a system of electronic country of origin certificates, electronic commerce, digital labelling, development of an integrated information system, and digitalization of logistics. The session, which was attended by the Director of the EEC Department, included a discussion of such key aspects of the current process of digitalizing trade in the EAEU and its partner countries as digitalization of foreign trade and logistics procedures, introduction of electronic document flow, blockchain and smart contracts in foreign trade, legislation on cross-border e-commerce, and approaches to the regulation of new digital technologies, including artificial intelligence. Besides, Vahagn Ghazaryan had a sideline meeting with Rupa Chanda, Director of the Trade, Investment and Innovation Division of ESCAP. The two sides assessed promising areas of cooperation in the field of trade digitalization and discussed possible areas for further work. Furthermore, the Paperless Trade Week 2025 included the Fourth Session of the key working bodies on implementing the Framework Agreement on Facilitation of Cross-border Paperless Trade in Asia and the Pacific, where Vahagn Ghazaryan informed the ESCAP Member States about the work carried out in the EAEU on trade digitalization and potential areas of cooperation between the EEC and the ESCAP Paperless Trade Council.    The main objective of the Paperless Trade Week 2025 is to promote cooperation between the public and private sector in the supply chain digitalization, and to support countries in adopting informed decisions while working together to implement the UN Treaty and Framework Agreement on Facilitation of Cross-border Paperless Trade in Asia and the Pacific.  
Display more