A package of documents on the launch of the EAEU’s common pharmaceutical market was signed
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.
The formation of a common pharmaceuticals market is one of the EAEU’s priorities. Chairman of the Board of the Eurasian Economic Commission Tigran Sargsyan emphasised: "The launch of the common market of medicines will help to ensure that we will rapidly eliminate barriers and restrictions in other areas of the economy. I would like to congratulate all participants on the successful conclusion of the negotiations."
The launch of the common market of medicines will benefit the citizens of Union countries and the business community. Pharmaceutical manufacturers of the Union countries will gain clear rules of the "game" - common and transparent norms, based on the best global practices. They will help domestic products become more successful and competitive on the world market. Within the Union unnecessary trade barriers will be eliminated, manufacturers’ expenses will decline, competition will increase, which will create the prerequisites for the containment of prices for medicines.
Press-release at the official Eurasian Economic Commission web-site