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The Eurasian Week Forum was opened in Astana: its participants are looking for the formula of practical implementation of the economic challenges that the EAEU countries face

The Eurasian Week Forum was opened in Astana: its participants are looking for the formula of practical implementation of the economic challenges that the EAEU countries face

8/24/2017

The importance of upgrading the usual management models was noted by the Chairman of the Board of the Eurasian Economic Commission (EEC), Tigran Sargsyan, at the opening ceremony of the International Eurasian Week Forum of the Union countries.

"Advances in science and technology accelerate the pace of changes, while our management systems are late: with decision-making, with adaptation, with promotion of new rules and so forth," the Chairman of the EEC Board said.

"But the EAEU gives us a chance to solve this challenge," Tigran Sargsyan said. “Supranational bodies will become more modern and will manage the trends rather than forming any man-made unachievable systems. Then all these processes will move faster and we can create favorable conditions both for citizens and for business.

During the discussion at the plenary session "Competitiveness in the changing world: new models, technology, management forms", Tigran Sargsyan also raised the subject of barriers and restrictions on the common market of the EAEU. "In the next five years, we first need to deepen integration, removing barriers," the Chairman of the EEC Board believes. The first task of the Eurasian Economic Commission as part of the work to reduce barriers on the common market of the Union is the achievement of agreements between the EAEU countries that they exist. "Following this we develop a road map how to remove barriers, exemptions, restrictions together to ensure our common markets functioned properly," Tigran Sargsyan said.

According to the Chairman of the EEC Board, those 60 obstacles that are already agreed are only a part of the work. There are about other 60 issues on which discussion continues.

In addition, it concerned agreed actions of the Union countries in the development of national initiatives, implementation of which should not create new obstacles. "Already today we have to agree on how we harmonize our digital agendas, what standards we apply, how we ensure cooperation and interoperability of the systems being developed. If we do not discuss these issues in the beginning, we will create new restrictions, and also complicate the life of business," the Chairman of the EEC Board believes.

Other speakers at the plenary session also talked about strategic challenges and their views on the future of Eurasian integration.

The Prime Minister of the Republic of Kazakhstan, Bakytzhan Sagintayev, opening the session, stated that the Eurasian Week became an important tool to develop cooperative relationships for business, investment and export potential of the EAEU and integration processes within the Union.

Bakytzhan Sagintayev drew the attention of the participants to the positive dynamics of the economies of the Union countries in the first quarter of 2017. According to the Head of the Government of Kazakhstan, due to creation of internal conditions for the development of trade, new opportunities for expanding the trade and economic cooperation with foreign countries have emerged. He cited the example of interaction with Vietnam. "Through opening mutual duty-free access for goods from Vietnam, we have intensified our trade with this country. The results of the first half of the year show an increase in turnover of the EAEU Member States with Vietnam by on 26.9%: in monetary terms, it is nearly half a billion dollars, 271 million dollars of which account for Kazakhstan,” the Prime Minister of Kazakhstan said.

The Vice Prime Minister, the Minister of International Economic Integration and Reforms of the Republic of Armenia, Vache Gabrielyan, also said that steady growth could be ensured only by eliminating barriers and moving towards bigger ideas-digitalisation of the economy, development of transport industry, creation of conditions to reduce transaction costs. it is necessary to maintain cooperation at all levels and in all areas of activities, to work under uniform technical standards, thus creating conditions for the development of an efficient market economy.

According to Vache Gabrielyan, the major advantage of the introduction of digital technology is that it is cross-cutting areas of activity for all industries, which allow promoting industrial cooperation and integration in all activities. In addition, he noted the particular importance of meetings between representatives of the business, experts and national governments of the EAEU countries: "Activities such as the Eurasian Week contribute to the creation of conditions for real integration.  Here the ties that we have lost are restored. If until now we had little information and no opportunities for unification, now these barriers are on the wane. We strive to make our economies grow together."

The First Deputy Chairman of the Government of the Russian Federation, Igor Shuvalov, pointed out that all the economies of the Union countries, including the Russian economy, came to the phase of growth after the recession period. "We have managed to improve trade turnover level and awareness of the problem of barriers. All this makes it possible to say that expectations ahead are even more favourable than in the past years of the existence of the Union," Igor Shuvalov believes. In his opinion, today the world is changing rapidly, and it is necessary to decide what a greater boon would be – the support of a conservative environment for certain industries, businesses, or the soonest creation of a common market that ensures the well-being of citizens of all the five countries. Considering the issues of the digital economy, Igor Shuvalov said that it was necessary to combine the efforts of the EEC and the national governments.

In conclusion of the plenary discussion, the Chairman of the EEC Board, Tigran Sargsyan, noted that holding of forums such as the Eurasian Week was one of the most effective tools for promotion of integration processes.

The Chairman of the EEC Board thanked the host party – the Republic of Kazakhstan, the Vice Prime Ministers of the Union countries, foreign guests, organisation and media partners for the interest shown and the support provided.