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Slovak business circles interested in closer EAEU-EU cooperation

Slovak business circles interested in closer EAEU-EU cooperation

11/26/2019

The need for establishing a full-fledged dialogue between the Eurasian Economic Union (EAEU) and the European Union (EU) was declared by the participants of the international conference on the operation of foreign companies in the market of the EAEU countries. The conference was held on November 21 in Bratislava (Slovakia).

Sergey Shukhno, Director of Integration Development Department, heading the Eurasian Economic Commission’s delegation, informed the audience about the five-year outcome of the EAEU's functioning and its development prospects.

“The union has fulfilled itself institutionally and has provided macroeconomic stability to its Member States. The Heads of the Union countries are aimed at further deepening the integration, which would correspond to modern economic reality. New integration guidelines formed the basis of the Declaration on further development of integration processes within the EAEU, and the Commission is now working on a strategic document  that is designed to specify and develop the provisions of the Declaration and optimize the work on removing barriers in the internal market”, - mentioned Sergey Shukhno.

The head of the EEC delegation told about the development of trade and economic cooperation of the EAEU countries with Slovakia and the EU as a whole, noting that the European Union remains the main technological, trade and investment partner for the EAEU countries. At the same time, EU exporters continue losing ground in the EAEU single market as they face competitors from the Asia-Pacific region. Sergey Shukhno noted the need to improve the current situation and expressed confidence that this would be facilitated by joint work with European partners.

Igor Yunas, Chairman of the Board of Bratislava Chamber of Commerce and Industry, emphasized that the integration processes taking place in Europe and Asia provide ample opportunities for a brand new trade and economic interaction. Cooperation should be developed over traditionally strong ties of Eastern European countries with the EAEU countries. Touching upon the topic of establishing an inter-union dialogue, Igor Yunas emphasized that fulfilling this interaction’s potential will fully preserve and increase the competitiveness of Slovakia and the EAEU countries in global markets, while simplified mutual access to markets is becoming a key task in modern conditions.

Representatives of the EEC also informed the Slovak audience about technical regulation, application of SPS measures and implementation of the EAEU industrial policy, as well as effects of Eurasian economic integration on foreign business operating in or planning to enter the EAEU single market.

 

For reference

The international conference in Bratislava was organized by the Embassy of the Russian Federation in cooperation with diplomatic missions of the Republic of Belarus, the Republic of Kazakhstan and the Kyrgyz Republic in the Slovak Republic. Ambassadors Extraordinary and Plenipotentiary A. Fedotov, I. Leshchenya, B. Dzhusupov, Chargé d'affaires a.i. of the Republic of Kazakhstan D. Izanova, as well as Trade Representative of the Russian Federation S. Stupar presented their welcoming reports.

The event was attended by over 100 Slovak entrepreneurs, including representatives of small and medium-sized businesses.