PM Urges EAEU to Update Policies during meeting in Yerevan

Kazakh Prime Minister Bakytzhan Sagintayev participated Oct. 25 in the meeting of the Eurasian Intergovernmental Council (EIC) in Yerevan, Armenia, his press service reported. The sides, represented by heads of national governments of the EAEU member states, discussed projects implemented within the integration framework.

Particular attention was paid to strengthening trade and economic ties and cooperation in enforcing previously concluded agreements. The EIC meeting in a narrow format considered ways to develop initiatives within the digital agenda of the Eurasian Economic Union (EAEU), an action plan to eliminate exemptions and restrictions on the domestic market for 2018-2019, progress on establishing an accident investigation body, the draft agreement on navigation, and the draft agreement on marking goods by means of identification within the EAEU and other items on the agenda.

The sides discussed projects implemented within the integration framework. Particular attention was paid to strengthening trade and economic ties and cooperation in enforcing previously concluded agreements.

At the EIC meeting in an enlarged format, Sagintayev noted with concern the current transformation of international trade relations, a growing trend towards protectionism and increasing competition between the largest countries for building regional trade zones. Sagintayev, therefore, urged council to adapt medium-term national policies to the new conditions. He also said key policy documents to develop the economies of participating countries had been adopted but their implementation was yet to be supported by current economic analysis. The Yerevan EIC meeting resulted in the signing of a number of documents, including decisions on the development of initiatives under the EAEU digital agenda, on the approval of the road map action plan for the implementation of the key directions and stages of implementing the EAEU transport policy for 2018-2020.

The gathering also agreed upon the host countries for Eurasian Week in 2018-2020. As part of his visit to Yerevan, Sagintayev also met with Armenian President Serzh Sargsyan and other officials of the EAEU member states. The Eurasian Economic Union is an international organization for regional economic integration. It has international legal personality and is established by the Treaty on the Eurasian Economic Union signed on May 29, 2014 in Astana, Kazakhstan. The EAEU provides for free movement of goods, services, capital and labor, pursues coordinated, harmonised and single policy in the sectors determined by the Treaty and international agreements within the Union. The Member-States of the Eurasian Economic Union are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic and the Russian Federation.