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21.10.2022 (Обновлено: 28.10.2022 13:04)

EAEU implemented 25 projects in automotive industry, machine tool building, electrical engineering and a number of other industries in 2021-2022

The Eurasian Intergovernmental Council examined a report on joint import substitution projects implemented by the Member States of the Eurasian Economic Union.

The report provides information on the implementation of 25 projects totaling more than US$20 billion in import-dependent industries, including automotive, machine tool, electrical, chemical, medical, and pulp and paper industries in 2021-2022. Information about these projects is structured on the EAEU Industrialization Map, which is an industrial information resource posted on the website of the integration association.

"We have serious opportunities for deepening integration form of cooperation on import substitution in industry," Artak Kamalyan noted. "According to the EAEU Industrialization Map, there are more than 50 projects that either arouse a direct interest in integration or project manufacturers are aimed at supplying products to the Union countries." 

Six projects are already being implemented with an integration component in the automotive industry, the chemical and electrical industries, as well as in the production of logging equipment. These are, for example, the Belarusian-Russian project for the production of harvesters, forwarders, skidders and timber loaders in Karelia and the Kazakhstan-Russian project for the production of mineral fertilizers and the development of deposits in the Karatau-Zhanatas phosphate basin.

 According to EEC Minister, the Industrialization Map now includes 158 projects in 25 industries totaling more than US$270 billion. US dollars. Both already defined as cooperative and potentially cooperative industrial projects in the Union are implemented mainly in import-dependent areas. A significant number of projects in various industries have prospects for integrated cooperation between enterprises of the EAEU countries.

 The EEC Minister emphasized that the data of the report can be taken into account by the governments of the EAEU countries when involving producers in the cooperative chains of the Union, state support of certain investment projects, implementation of international projects, localization of production.

"When developing cooperative ties between our manufacturers, we must take into account their industry-wise specialization, scientific, technical and production capabilities. The fundamental factor in the development of import substitution in the Union is the development of a scientific and technical base in import-dependent areas," concluded the EEC Minister.