A report on proposals for forming a common exchange market for goods in the Eurasian Economic Union has been published on the Eurasian Economic Commission’s website.

Earlier, the report was approved by the EEC Board. As Sergei Glazyev, EEC Minister in charge of Integration and Macroeconomics, stressed at the meeting, forming the Union’s common exchange market for goods was envisaged by the Strategy-2025.

"The main objectives of forming the common exchange market for goods are to form fair market prices for exchange commodities, to increase trade volumes in the Union, to increase settlements in national currencies, to raise the level of mediation between sellers and buyers and to set fair pricing for the EAEU goods in the world market," Sergei Glazyev said.

The report contains proposals on schemes for forming the common exchange market for goods, specifying a list of goods and derivative financial instruments for sale in the common market, calculating stock and over-the-counter price indicators, as well as best practices of the European Union.

"The exchange commodities traded on the Union’s exchanges may include: coal, mineral fertilizers, vegetable oil, sugar, meal, oil cakes, ferrous metals, building materials, cement, gold, electric power, gas, oil, petroleum products, and grain," the article notes.

The report’s conclusions and proposals will be used to build up a Concept for forming the common exchange market for goods within the EAEU scheduled to be approved in 2023.

Earlier, the Belarusian Universal Commodity Exchange held test trading sessions in rapeseed oil, which were attended by economic entities and stock exchanges of the EAEU countries. The business representatives highly appreciated the organized test trading and expressed interest in participating in real-time trading sessions.