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The Chairman of the Board,The Eurasian Economic Commission
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26 Dec 2024
Protocol on Amending Treaty on EAEU to Improve Mechanisms for Imposing Trade Remedies Approved
At the meeting of the Supreme Eurasian Economic Council held on December 26 in the Leningrad region (Russian Federation), the Heads of State of the Eurasian Economic Union approved the Protocol on Amending the Treaty on the EAEU in terms of a special mechanism used in conducting investigations and making decisions on the application or non-application of special safeguard, anti-dumping and countervailing measures. "The main objective of the Protocol is to improve approaches to the preparation of decisions on the application of protective measures, allowing to take into account the interests of all participants in the process and to make balanced and prompt decisions, while providing maximum flexibility," mentioned Andrey Slepnev, EEC Minister in charge of Trade. Thus, the decision of the Board of the Commission to apply a measure should meet the principle of balance, which aims to exclude legitimate risks for individual EAEU countries while ensuring the protection of producers. Union producers are provided with a clearer procedure for resolving conflicts in the event of a Member State exercising its veto right over a safeguard measure. In particular, a compromise decision will be found more quickly, which will minimize the negative consequences for them while the safeguard measure is not in force. If necessary, the EAEU Court will be involved, and its conclusions will be taken into account in the final decision on the application of the measure. In turn, additional safeguards are provided for consumers of the product that is the subject of investigation: if the market situation so requires, together with the introduction of the safeguard measure, recommendations will be made to producers to prevent consumer discrimination, problems with product availability and unreasonable price increases. Another innovation is the norms on the "negative decision" of the EEC Board: if the Members of the Board object to a proposed protective measure, businesses will have the possibility to familiarize with the reasons for such a decision and, if necessary, to challenge the outcome of the case in the EAEU Court. The amendment package also includes provisions to ensure that affected Member State producers are entitled to protection even when dumped or subsidized imports do not threaten the Union as a whole. An administration procedure has been developed, which will allow introducing a measure only in respect of those goods that are intended for consumption in the territory of certain EAEU countries (in a separate market), reducing the likelihood of negative consequences for businesses of other Member States," summarized Andrey Slepnev.
26 Dec 2024
Agreement on Unified System of Customs Transit between EAEU and Third Countries to Ensure Seamless Freight Transportation
On December 26, the meeting of the Supreme Eurasian Economic Council in the Leningrad region (Russian Federation) signed the Agreement on a unified system of customs transit of the Eurasian Economic Union and a third party (third parties). The concept of the Agreement defines the fundamental legal basis for the conclusion of individual EAEU international treaties with third countries on the creation of a unified transit system. Uzbekistan, for example, is already interested in this, and other CIS states or such important EAEU trade partners as China may also take an interest. The main objective of the Agreement is to ensure seamless, i.e. the most convenient transportation logistics for all market participants by increasing the connectivity of territories and reducing overhead costs for business to deliver cargo. It is essentially about speeding up and reducing the cost of transportation as a result of introducing digital technologies and lowering the risks of delivery errors, which is especially important for the end consumer. This will be achieved through the use of a unified transit declaration in the form of an electronic document; unified enforcement of the obligation to pay customs duties and taxes; application of certain special simplifications granted to authorized economic operators of the Union states and a third party. This will also be facilitated by the use of navigation seals to track the transportation of goods throughout their journey through the customs territories of the EAEU and third parties. The role of mutual recognition of the results of customs control is also important. The adoption of the document promotes the development of the Union's transit potential, enhances the security of cross-border supplies and increases trade turnover of the Eurasian Five countries. The draft Agreement on a unified system of customs transit between the EAEU and a third party (third parties) has been prepared as part of implementing the Strategy-2025.
26 Dec 2024
Heads of EAEU Countries Discussed Functioning of Common Market of Services
At the meeting of the Supreme Eurasian Economic Council on December 26 in the Leningrad region (Russian Federation), the Heads of State of the Eurasian Economic Union reviewed the reports of the Eurasian Economic Commission on the functioning of the common market of services and on the liberalization of certain sectors of services within the association. The report on the functioning of the common market of services highlights the key stages of its formation and the current situation, and identifies the obstacles removed on the way to barrier-free access for service providers from the EAEU states. In addition, it points out the possibilities for further development of the common market of services and describes advantages for businesses of the Union's countries. Proposals resulting from the report will be used by the Commission and regulators of the participating countries to improve the mechanisms of liberalization of trade in services, contributing to the formation of a full-fledged common market. Commenting on the document, Bakhyt Sultanov, EEC Minister in charge of Economy and Financial Policy, noted that today there are 142 sectors in the EAEU common market of services, which is about 31% of all service sectors. "This shows that there is a potential for its growth and allows us to outline directions for further work to form and ensure the full functioning of the EAEU common market of services," the EEC Minister emphasized. In the report on the implementation of liberalization plans, the key areas of focus are services in tourism, meteorology, surveying, property valuation, construction and motion pictures. As a result of implementing the plans for 18 sectors, 10 of them have been transferred to the common market for services, and the transfer of two more sectors — underground and ground surveying services — is in its final stages. "The Commission is actively engaging with the Union countries to conclude administrative cooperation agreements between competent authorities in eight other sectors. This cooperation will enable additional support for the successful functioning of these sectors in the common market mode," summarized Bakhyt Sultanov.
26 Dec 2024
Positive Dynamics of Business Activity Forecast to Continue in EAEU
The Eurasian Economic Commission has updated the short-term business activity forecast in the states of the Eurasian Economic Union for the beginning of 2025. The results of calculating the normal and leading indicators indicate a continued positive trend. At the same time, some slowdown in business activity growth is forecast in Belarus and Russia, while in Kazakhstan and Kyrgyzstan the upturn is expected to accelerate. The Armenian economy is likely to return to the upturn phase. The leading indicators are a forecasting tool used by the Commission to comprehend the direction of short-term business activity dynamics in the Eurasian Five countries. They accumulate the most important information about short-term processes unveiling the behavior of economic agents, as well as the main trends in the economy.
26 Dec 2024
Bakytzhan Sagintaev: "Dialogue with Iran has the potential for development in a number of areas"
On December 26 in St. Petersburg, Bakytzhan Sagintaev, Chairman of the Board of the Eurasian Economic Commission, held a working meeting with Seyed Mohammad Atabak, Minister of Industry, Mining and Trade of the Islamic Republic of Iran. The parties exchanged views on relevant matters of Eurasian integration and discussed promising areas of cooperation. Bakytzhan Sagintaev emphasized that Iran is one of the important partners of the Eurasian Economic Union. While the Interim Trade Agreement between the EAEU states and Iran was in force from 2018 to 2023, the trade turnover almost doubled. In the first 10 months of 2024, this indicator rose by 12.8%, with exports of goods to Iran increasing by 16% and imports by 8%. To expand the mutually beneficial partnership, the two parties signed a full-fledged Free Trade Agreement in December 2023 to establish duty-free treatment for 90% of goods. "We expect that in the near future the Agreement with Iran will enter into force, which will allow our countries to increase trade turnover and overall economic cooperation with greater efficiency," noted the Head of the EEC Board. "Dialogue with Iran has the potential for development in a number of areas." The parties agreed that the most promising areas of interaction are the development of transport and logistics infrastructure, expansion of cooperation ties between enterprises, cooperation in the agricultural sector, oil refining and petrochemical industries, scientific research and development. As a result of the negotiations, the parties expressed confidence in the successful practical realization of the plans.
26 Dec 2024
Main Directions of EAEU International Activities for 2025 approved
At the meeting of the Supreme Eurasian Economic Council held on December 26, the Heads of State of the Eurasian Economic Union approved the Main Directions of the EAEU International Activities for 2025. The main directions of international activities are the Union's framework document in this area and are developed in accordance with the recommendations of the Member States. The priority is to continue the dialogue on trade and economic issues with the nearest neighbors, develop cooperation with the Union's Observer States, enhance interaction with key integration associations in Eurasia, Africa and Latin America, position the Union internationally as a pole of economic attraction. Special emphasis is placed on increasing the transport connectivity of the EAEU with actively developing markets of third countries through the development of Eurasian transport corridors, as well as on the creation of favorable conditions for businesses of the Union's countries in terms of foreign economic activity. In 2025, the efforts of the EAEU and the Eurasian Economic Commission will be aimed at developing the established mechanisms of cooperation, including within the framework of memoranda, declarations and trade agreements. Among the international organizations essential for international cooperation are the United Nations (UN), its regional commissions and specialized organizations, the World Customs Organization (WCO), the World Trade Organization (WTO) and others. The regional associations include the CIS, CICA, SCO, ASEAN, the Southern Common Market (MERCOSUR), the African Union, sub-regional integration associations in Africa and other entities. It is planned to further develop trade and economic cooperation with the CIS Member States, BRICS participating countries, China, Vietnam, Serbia, Singapore and Iran in accordance with trade agreements, as well as other states interested in mutually beneficial cooperation. The EAEU international activities are conducted in accordance with Article 7 of the Treaty on the EAEU and the Procedure for Implementing International Cooperation by the Eurasian Economic Union. The Main Directions of the EAEU International Activities are established in accordance with paragraph 5 of the said Procedure.
26 Dec 2024
Outcomes of Supreme Eurasian Economic Council's Meeting on December 26, 2024
On December 26, in Leningrad Region (Russian Federation), Nikol Pashinyan, Prime Minister of the Republic of Armenia and Chairman of the Supreme Eurasian Economic Council (SEEC), chaired a SEEC meeting featuring Heads of State of the Eurasian Economic Union, Heads of Observer States at the EAEU, and Bakytzhan Sagintaev, Chairman of the Board of the Eurasian Economic Commission. The Council members approved the Main Directions of the EAEU's international activities for 2025, a framework document in this area, developed by the Commission in accordance with the recommendations of the Member States. The meeting also approved the Protocol Amending the Treaty on the EAEU as regards the special mechanism for conducting investigations and making decisions on the application or non-application of special safeguard, anti-dumping and countervailing measures. The Commission's reports on the functioning of the common market of services and liberalization of individual service sectors in the Eurasian Economic Union were presented to the leaders of the Union countries. An Agreement on a unified system of customs transit between the EAEU and a third party (third parties) was signed, defining the fundamental legal basis for the conclusion of individual international treaties between the Union and third countries on the creation of a unified transit system. The Supreme Eurasian Economic Council granted the Islamic Republic of Iran the status of an Observer State at the EAEU. The Heads of the Union countries determined that in 2025 the Republic of Belarus will chair the Supreme Eurasian Economic Council, the Eurasian Intergovernmental Council and the Council of the Eurasian Economic Commission. The next SEEC meeting will be held at the end of May 2025 in Belarus.
25 Dec 2024
Chairman of EEC Board Bakytzhan Sagintaev expressed condolences to families of Aktau plane crash victims
Bakytzhan Sagintaev, Chairman of the Eurasian Economic Commission's Board, expressed his condolences to all relatives of the victims of the Azerbaijan Airlines Embraer 190AR crash that occurred on December 25, 2024 in Aktau. "It is with deep sorrow that I received the news about the tragic airplane crash in Aktau, which took many lives," noted the Head of the EEC Board. "I offer my sincere condolences to the families of the victims and wish a speedy recovery to all the injured." Bakytzhan Sagintaev sent telegrams of condolences to Ilham Aliyev, President of the Republic of Azerbaijan, Vladimir Putin, President of the Russian Federation and Kassym-Jomart Tokayev, President of the Republic of Kazakhstan.
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