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24 Jun 2025 EAEU countries discussed approaches to establishing common financial market The Advisory Committee on Financial Markets under the Eurasian Economic Commission's Board discussed approaches to the further establishment of a common financial market of the Eurasian Economic Union, harmonization and improvement of legislation. The meeting was held at the EEC headquarters under the chairmanship of Bakhyt Sultanov, Minister in charge of Economy and Financial Policy of the Commission. It approved the report on the implementation of the action plan on harmonizing the financial market legislation of the EAEU States for 2024. "The report reflects the work on harmonizing the legislation in the banking and insurance sectors and the securities market, carried out by the Commission jointly with financial regulators," noted Bakhyt Sultanov, "Establishment of harmonized requirements for regulation and supervision in the field of financial markets is one of the necessary conditions for the creation of a common financial market of the EAEU." The meeting participants discussed further steps to establish a common financial market of the Union. As part of implementing the instruction of the Supreme Eurasian Economic Council, a new version of the draft SEEC disposition was considered, which includes provisions concerning the possibility of applying a multilevel approach to the regulation of activities of financial institutions and updating the time frames for harmonization. The Advisory Committee members approved the recommendations of the EEC Council on agreed proposals on harmonizing of legislation of the Union states in terms of the glossary and establishment of requirements for brokers in the securities market and for admission of insurance companies to the EAEU common financial market. They also reviewed the draft report on addressing the issues of the rating industry of the Union States, prepared by the Commission jointly with the authorized authorities of the EAEU countries within the framework of the action plan for implementing the Strategy 2025.
20 Jun 2025 Bakytzhan Sagintaev: "The Commission seeks to create better conditions for developing the real sector of the EAEU economies" Bakytzhan Sagintaev, Chairman of the Eurasian Economic Commission's Board, took part in the plenary session of the 28th St. Petersburg International Economic Forum on June 20. The Head of the Commission's Board also spoke at the session Synergy in the EAEU’s Real Sector: Responding to Today’s Challenges. In his report Bakytzhan Sagintaev emphasized that the real sector plays an important role in the economy of each country of the Eurasian Economic Union, ensuring production of goods and services, offering employment and serving as the basis for sustainable development. "In 2024, industrial output in the Union increased by 4.5%. Mutual supplies between the EAEU countries increased by 8.1%, investments in fixed assets — by 7.5%," told Bakytzhan Sagintaev. For the progressive development of industrial cooperation within the EAEU, the Main Directions of Industrial Cooperation until 2030 are defined. "The main emphasis is placed on the development of cooperation ties between enterprises, including through the localization of joint knowledge-intensive ventures," noted the Head of the EEC Board. In conclusion, Bakytzhan Sagintaev outlined a number of challenges that, when addressed, will contribute to creating the necessary conditions for developing the real sector of the Union economies and increasing the volume of mutual and foreign trade. The priorities of each Member State of the Eurasian integration association are the basis of common efforts to ensure the dynamic development of the Union, as the Head of the EEC Board emphasized. These are economic growth, job creation, investment attraction, technological development and increasing the competitiveness of EAEU products in international markets.
20 Jun 2025 Strategic partnership in agriculture discussed at St. Petersburg International Economic Forum Possibilities for long-term and mutually beneficial cooperation in the agricultural sector within the Eurasian Economic Union were assessed during the Russia-Armenia business dialogue at the St. Petersburg International Economic Forum. "The Union's food security level has reached 92%, confirming its economic sustainability. At the same time, there are still some segments where the Member States can strengthen the stability of the common agricultural market," stated Goar Barseghyan, Minister in charge of Industry and Agriculture of the Eurasian Economic Commission. In order to improve competitiveness, create conditions for steady economic growth of the industry and build efficient supply chains, the Commission, in cooperation with businesses, is working to expand the mechanism for financing cooperative projects to the agricultural sector. According to the EEC Minister, promising areas have been identified for implementation in such fields as selection and seed production, animal husbandry, processing of agricultural produce, as well as agricultural infrastructure. "The creation of such a financial instrument is a significant practical step to support initiatives of the real sector, allowing leveraging the scale of the Union's common market and utilizing technological and production competencies of our countries," Goar Barseghyan noted. In 10 years, agricultural production in the EAEU countries has grown by more than 25%, while mutual trade has doubled (up to $16 billion). Since Armenia's accession to the EAEU, the supply of agricultural produce has more than quadrupled, especially the categories of vegetables, fruits and processed products.
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