Mikhail Myasnikovich: "The EAEU has proved its solvency amid restrictions, sanctions and the pandemic"

Mikhail Myasnikovich, Chairman of the EEC Board, reported on the role of the business community in promoting the Eurasian integration processes at the congress of the Russian Union of Industrialists and Entrepreneurs (RUIE) in Moscow. Vladimir Putin, President of the Russian Federation, took part in the RUIE congress as well.

According to Mikhail Myasnikovich, the Eurasian Economic Union has proved its solvency amid restrictions, sanctions and quarantine measures of the pandemic. "Owing to the efforts of governments, the business community and statutory bodies of the Eurasian Economic Union, the EAEU mutual trade in goods has increased by more than 35% over the past 3 years and reached a record value of 83 bln dollars," stressed the Head of the EAEU Board. “Along with that, the indicators of mutual trade in cooperative goods increased by 1.5 times during the same period, which is the most evidence of the scale and depth of our cooperation”. 

The Chairman of the EEC Board has noted that, owing to the advantages of the Union’s common market, it is possible to promptly ensure the formation of supply chains of raw materials, components and final goods.

Mikhail Myasnikovich placed special emphasis on improving the public procurement mechanism. He has reported that uniform rules for determining the country of origin of goods for public procurement purposes have already been developed and are constantly improved. When developing these rules the Commission and the Member States favor the cooperative approach, which contributes to localizing the production in the Union countries. Besides, there is the Eurasian register, an extract from which confirms the country of origin of goods and enables the business community to avoid many administrative barriers.

According to the Head of the EEC Board, the EAEU countries should increase the share of high-tech activities. "Strong investments are needed in a short time frame. Priority attention should be given to such industries as microelectronics, electronic component base, chemical industry, pharmaceutical industry, aviation and medical industry, motor and machine tool industry," Mikhail Myasnikovich stressed. 

He has also expressed confidence that the technological sovereignty can be achieved in our Union using science-based approaches.

As for the technical regulation issues, the Chairman of the EEC Board has noted that at present uniform safety requirements have been set for 85% of the products circulating in the Union’s market. “More than 15 thousand standards are applied. And there is a growing need for interstate standards. It is very important to ensure the participation of the manufacturing industry and the business community in the process of their development,” Mikhail Myasnikovich is confident.