Under the Eurasian Economic Union, an information resource “Functioning of internal markets of the Eurasian Economic Union" was launched. Its main task is to identify barriers and restrictions in mutual trade. The address of the resource: https://barriers.eaeunion.org.
The portal was presented by the Eurasian Economic Commission at the Eurasian Week Forum & Expo.
The Asia-Pacific Economic Cooperation heads of state and government meeting under the Peruvian presidency was held on November 20, 2016. Russian President Vladimir Putin leaded the official delegation of the country.
The presidency theme was “Quality Growth and Human Development” with focus on the following thematic priorities: Regional Economic Integration and Quality Growth; Enhancing the Regional Food Market; Towards the Modernization of Micro, Small and Medium-sized Enterprises (MSMEs) in the Asia-Pacific; and Developing Human Capital.
On October 31, 2016 the session of the Advisory Committee for Agroindustrial Complex of the Eurasian Economic Commission chaired by the Member of the Board - Minister in charge of Industry and Agroindustrial Complex of the EEC Sergey Sidorskiy addressed the draft Recommendation of the Commission Board "On agreed actions of the Member States of the Eurasian Economic Union (EAEU) in the development of export potential of agricultural products and foodstuffs”.
The latest APEC Regional Trends Analysis was issued ahead of pivotal economic policy meetings of the region’s Leaders and Ministers this week in Lima
Merchandise imports and exports in the 21 APEC member economies continue to underperform, contracting 6.6 per cent and 6.4 per cent, respectively, during the first eight months of the year due to weak global demand, the report reveals.
“Continued sluggish trade has moderated growth in APEC to 2.4 per cent, igniting the pursuit of new sources of growth,” said Dr Alan Bollard, Executive Director of the APEC Secretariat. “A top priority is opening up trade and supply chains to small firms that employ most of the region’s workforce but do business across borders in quite modest numbers.”
The report indicates that new trade opportunities abound in the region, bolstered by household consumption and the effect of low interest rates and prices of commodities, particularly oil, on spending habits. But it cautions that uneven growth among economies, interest rate shifts and protectionism pose near-term risks.
“While tariffs across APEC remain low at around 5 per cent, trade-restrictive measures have increased and trade-facilitating measures have declined in the region,” noted Dr Denis Hew, Director of the APEC Policy Support Unit—the research body which authored the report.
The report advocates education reform and the introduction of measures that improve career training and skills development compatible with digital innovation and labor market requirements as new industries take shape. This includes access to lifelong learning which is becoming more urgent as workforces age in many of the region’s economies.
Press-release at the official APEC web-site
The Eurasian Economic Commission (EEC) and the World Bank signed an agreement to implement a joint research project on reaping the economic benefits from creating a shared digital space in the Eurasian Economic Union (EAEU) countries, including through development of shared digital platforms on November 17, 2016.
The project is to provide information and analytical support to joint efforts taken by the EEC and the EAEU countries within the Working Group for Preparing Proposals on Digital Space Creation in the Eurasian Economic Union established by the EEC Board decision on March 17, 2016.
Estimating the potential economic effects of the EAEU digital space creation will be one of the key results of this joint analytical work. The results are going to be submitted to the EAEU authorities for review in the beginning of 2017.
“Cooperation with the World Bank is important for conducting an objective and independent assessment of the digital development level, as well as forecasting digital effects on socioeconomic development of the EAEU states produced by joint efforts to create the EAEU digital space,” said Karine Minasyan, ECC Member of the Board (Minister) for Internal Markets, Computerization, and ICT.
“The World Bank is pleased to work with the EEC on the digital agenda, as well as to foster cooperation in areas of mutual interest. We hope that the collaboration launched this week will help the Eurasian Economic Union countries reap what we called “digital dividends” in the latest Bank’s World Development Report,” noted Andras Horvai, World Bank Country.
World Development Report 2016 Digital Dividends documents a number of examples where the internet, mobile phones, and related technologies have promoted inclusion, efficiency and innovation. In many instances, this has allowed businesses to get more productive, people to find new opportunities, and governments to improve their operations. The payoff: faster growth, more jobs, and better services.
The joint analytical work includes two stages, with the second stage to be completed in April 2017.
Press-release at the official Eurasian Economic Commission web-site
Member of the Board - Minister in charge of Integration and Macroeconomics of Eurasian Economic Commission Tatyana Valovaya visited San Francisco (United States) where she highlighted the additional opportunities offered by the single market of the Eurasian Economic Union (EAEU) for business to American partners.
This was during the session of the U.S.- Russia Business Council dedicated to implementing innovation and strengthening international economic relations.
On November 16, 2016 Member of the Board - Minister in charge of Integration and Macroeconomics of the EEC Tatyana Valovaya met with the Secretary of State for Economic Affairs of Switzerland, Marie-Gabrielle Ineichen-Fleisch at the headquarters of the Eurasian Economic Commission.
The meeting was attended by Ambassador Extraordinary and Plenipotentiary of the Swiss Confederation in the Russian Federation, Pierre Helg, and Director of the Integration Development Department of the EEC, Sergey Shukhno.
Tatyana Valovaya gave detailed information on the international cooperation of the Eurasian Economic Union (EAEU), and spoke about the Commission’s various formats of interaction with other regional integration associations and governments of third countries.
The Eurasian Economic Commission (EEC) and the World Bank signed an agreement to implement a joint research project on reaping the economic benefits from creating a shared digital space in the Eurasian Economic Union (EAEU) countries, including through development of shared digital platforms on November 17, 2016.
The project is to provide information and analytical support to joint efforts taken by the EEC and the EAEU countries within the Working Group for Preparing Proposals on Digital Space Creation in the Eurasian Economic Union established by the EEC Board decision on March 17, 2016.
The Eurasian Economic Commission (EEC) and the Intra-European Organisation of Tax Administrations (IOTA) plan to collaborate on joint analytical work in the sphere of tax policy and administration, information exchange, holding consultations, seminars, conferences and forums, and organising joint research and other projects.
Director of the Financial Policy Department of the Eurasian Economic Commission (EEC) Tigran Davtyan held a number of meetings in Budapest (Hungary) with representatives of the Intra-European Organisation of Tax Administrations (IOTA).
On November 16, 2016 the Eurasian Intergovernmental Council held a session in Gorki (Moscow region, Russia) where Members of the Council of the Eurasian Economic Commission signed a package of common documents required to launch and complete the work of the common market of medicines on the territory of the Eurasian Economic Union (EAEU).
The Prime Minister of Kazakhstan Bakytzhan Sagintayev chaired the session of the Intergovernmental Council and highlighted the importance of launching the common market of medicines in the Union. "Today, the final decision was taken on the common market of medicines. The package of documents was signed by representatives at the level Vice Prime Ministers in the presence of the Prime Ministers of the members of the EEC Council. Thus, the work has been completed on a high note," said Bakytzhan Sagintayev.