21.06.2022 (Обновлено: 04.07.2022 16:18)

Business community’s participation in assessing regulatory impact of EEC draft decisions significantly increased in 2021

The Heads of Government of the Eurasian Economic Union countries were presented with monitoring of the regulatory impact assessment (RIA) of the Eurasian Economic Commission’s draft decisions in 2021.

"Last year, total amount of proposals submitted by entrepreneurs during public discussion of the Commission’s draft decisions increased by 29%", noted Bakytzhan Sagintaev, EEC Minister in charge of Economy and Financial Policy. "This confirms the growing demand for the RIA procedure by the business and expert community of the Union countries".

Along with that, almost 70% of proposals submitted by the business community were taken into account, in other words, the Commission pays a close heed to the business circles’ opinion when introducing supranational regulation within the Union. Positive determinations amount to 87%. This confirms that the vast majority of decisions being adopted by the Commission are aimed at improving the Union's business environment.

In order to further improve this tool, amendments to the Treaty on the Union were prepared, approved and signed by the Heads of State in 2021 as part of implementing the Strategic Directions for Developing the Eurasian Economic Integration until 2025, which provide for introducing a mechanism to assess actual impact of the Commission's decisions and extend the RIA procedure to draft international treaties within the EAEU.

For reference

The RIA is a procedure for assessing the impact of the EEC draft decisions on the business environment; when performing the RIA procedure, opinions of the Union countries’ business community are taken into account.

The RIA procedure consists of two stages: current assessment, i.e. public discussion of the EEC's draft decision on the Union's website for at least 30 calendar days and final assessment, i.e. preparation of the RIA statement by a specially created Working Group of the EEC.