A New Mechanism of Support and Promotion of Cooperation Projects is Being Developed in EAEU
Participants of the September 30th session of the EEC Industrial Advisory Committee discussed the development of a mechanism of collaboration between the Eurasian Economic Commission, EAEU Member States and Eurasian Development Bank (EDB) that would allow to effectively classify cooperation projects as projects with high integration potential eligible for EDB financing.
After a series of consultations with EDB experts and representatives of the Union Member States, EEC Industrial Group elaborated a package of documents defining the mechanism of selection and consideration of promising cooperation projects eligible for EDB financing.
It is envisaged that a High Level Working Group constituting the core of this mechanism will be created. The Group will be made up of representatives of authorized bodies of the Union Member States, and will be headed by the EEC Member of the Board – Minister in charge of Industry and Agroindustrial Complex Sergey Sidorskiy and Chairperson of EDB Managing Board Dmitry Pankin.
Certain criteria allowing to classify a project as a cooperation project with high integration potential within the EAEU were approved by the Industrial Group, EDB and Union Member States. For a project to be classified as a cooperation project it must be implemented by two or more EAEU Member States throughout the entire lifecycle of the manufactured product.
If the aforementioned plans are fulfilled, a new tool supporting and promoting new and ongoing cooperation projects, able to stimulate an expansion of cooperation between enterprises of the Union Member States and the creation of new value chains in EAEU, will be created.
Press-release at the official Eurasian Economic Commission web-site