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Tigran Sargsyan proposes measures to strengthen the ЕАEU

Chairman of the Board of the Eurasian Economic Commission Tigran Sargsyan. Photo: vestirama.ru

The member-countries of the Eurasian Economic Union (ЕАEU) need to focus on structural transformations and making their economic policies closer. This was stated by the Chairman of the Board of the Eurasian Economic Commission (EEC) Tigran Sargsyan, when addressing members of the Federation Council of the Russian Federation.

"Despite the systemic work on removing barriers and obstacles in the common market of the Union, we all need to understand that their nature is differences in the economic policies of our states. As long as economic policies, speed, and depth of structural reforms differ, we will deal with various kinds of obstacles. New ones will come in place of those removed. Therefore, unification of norms and rules in our common markets is of key importance,” Sargsyan said.

The close-up of the rhythms of economic development, according to the head of the EAEU board, should be promoted by initiatives and joint projects for the formation of global Eurasian brands. Another key driver will be a coordinated policy in the digital sphere, which will provide a significant synergistic effect and implement joint initiatives to develop the digital economy of the countries of the Union.

Ensuring the world leadership of the ЕАEU in the field of logistics will be an important element in the development of the Eurasian integration association. "It is necessary to create a "seamless corridor" between Europe and Asia, North and South, and in practice implement the principle of a "one stop" discussing harmonization of standards and requirements in the field of transport with the trade partners", Tigran Sargsyan said. Citizens of the Union countries should feel more positive effects of integration. In addition, it is necessary to establish cooperation to develop the intellectual and human resources of the Union countries.

According to the Chairman of the EEC board, the scope of powers delegated to the Commission is not sufficient to solve the tasks facing the Union. And although the issues of customs and technical regulation were transferred to a supranational body, control functions remained at the national level, which limits the possibilities for creating a single legal framework for entrepreneurs of all the EAEU countries.

The way out could be the formation of a system in which control issues would become part of the joint competence of the countries of the Union. In addition, EEC should be given the right to apply to the ЕАEU Court if the countries of the Union do not comply with the decisions or provisions of the Treaty on the Union. For the time being, the Commission has only the right to notify the government of a country of the need for their implementation, and its functions of controlling the common market are limited to monitoring. "The expansion of the powers of the EEC will allow, firstly, to have a proper reaction mechanism in case of violation of the rules of the common market, and secondly, take responsibility and, if necessary, perform the role of "the bad cop," thus freeing the role of partners in the Union, he declared.

Speaking about trade and economic cooperation with third countries, the chairman of the EEC board noted that the main direction of the work of the Commission for the coming years should be the deepening of integration processes. In this context, the foreign economic agenda is seen as an opportunity to expand the sales markets for the entrepreneurs of the ЕАEU and import modern technologies and investments. The presidents of the countries of the Union singled out seven negotiating tracks with the countries with which agreements on free trade zones can be signed. This list includes China, Iran, Israel, Singapore, Serbia, India, and Egypt.

Tigran Sargsyan supported the idea of establishing funds that would stimulate interregional cooperation. "Judging by international experience, this can give a serious impetus to integration primarily of the border regions of the Union countries," he summed up.

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