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EAEU Approved Concept for Establishing Common Exchange Market for Goods
Heads of Government of the Eurasian Economic Union signed the concept for establishing a common exchange market for goods.
This document will facilitate development of national stock exchanges of the Eurasian Five countries and enable businesses to expand their markets. In this case, consumers will have access to goods, the prices for which will be established competitively.
The main objectives of creating a common exchange market for goods are objective market pricing for exchange commodities, growing trade volumes in the Union, increasing the share of settlements in national currencies and the fair pricing for EAEU goods in the global market.
At the same time, the issues of exchange trade in energy commodities will be coordinated as part of work on establishing common markets for energy resources.
Actors of the common exchange market for goods will be bidding organizers and participants, infrastructural organizations providing storage and transportation services, as well as settlement and clearing services to common exchange market participants.
Bidding organizers and infrastructural organizations of the Member States will exchange information by mutual agreement to the extent necessary to ensure efficient operation of the common exchange market for goods.
An advisory body (the Exchange Committee) is established for interaction between the bodies of the Member States authorized to regulate exchange trade and the actors of the common exchange market of the EAEU commodities.
The next step in creating a common exchange market for goods will be elaboration of the Program for Developing Exchange Trading within the EAEU, which is planned to be approved at the level of Heads of Government by the end of 2024.
