Eurasian Economic Union has risen by 5 positions in Doing Business 2018

23 October, 2018, 15:54 1236
Eurasian Economic Union has risen by 5 positions in Doing Business 2018

As of today, the EEU ranks 35 among 190 states. 


First Deputy Prime Minister of Kazakhstan Askar Mamin has taken part and made a speech in the plenary session of the international forum 'Eurasian Week': 'Real Sector of the EEU Economy: Enhancing Potential in the Course of Integration' in Yerevan, correspondent reports. 

Prime Minister of Armenia Nikol Pashinyan delivered his welcome speech to the participants of the Forum. He underlined the importance of the Forum and expressed the hope for effective and productive discussions that will facilitate the strengthening cooperation within the EEU. 

About 2000 participants and more than 150 speakers, including First Deputy Chairman of the Russian government Anton Siluanov, Deputy Prime Minister of Belarus Igor Petrishenko, Vice Prime Minister of Kyrgyzstan Zhenish Rasakov, Chairman of the Collegium of the Eurasian Economic Commission Tigran Sarkisyan, Minister of governments, heads of government corporations and business representatives of the EEU member states took part in the Forum. 

Askar Mamin underlined that the EEU member states face a serious task - mitigation of the consequences of the upcoming secular slowdown of the world economy. 

Owing to agreed policies of the EEU states, there are mechanisms allowing to confront negative trends, according to Mamin. 

"The introduction of the directions to develop the common economic space, to create unimpeded access to the markets of the EEU member states will enable to create conditions for increasing volumes of trade between the states irrespective of external influences. In the Doing Business 2018 rankings, the EEU ranks 35th out of 190 - it has risen by 5 positions compared to 2017," said Askar Mamin. 

The volume of mutual trade turnover of the EEU for January - July 2018 has made up 34.1 billion dollars, a 13.8% increase compared to the given period of the past year. The volume of external trade of the EEU member states for January-July 2018 has equalled 419.6 billion dollars with a 22.7% increase to the same period of 2017. 

To improve conditions to do business in the internal market of the EEU, 15 barriers in various sectors have been eliminated allowing businessmen to avoid considerable financial costs. 

Askar Mamin underlined that so as to provide sustainable paces of economic growth within the EEU, it was necessary to introduce an agreed economic policy aimed at strengthening the competitiveness of the production sector. One of the main directions of this work should become the formation of common production processes focused to integrate competitive benefits of all EEU member states and to reduce the cost throughout the value chain. 

"A plan to develop 130 joint colloborative projects in such sectors as space, medicne, extradition of natural resources, environment, agriculture," said Mamin. 

The First Deputy Prime Minister of Kazakhstan noted digitalization was the main question of the further development of production potential. He underlined that 'there is a high demand to harmonize the digitalization process between the EEU states, including in connection with the high sensitivity of the process to the gaps between certain sectors, or regions'.

First Vice Prime MInister of Kazakshtan expressed confidence that the Forum 'Eurasian Week'would become the important tool to develop teh economy, investment and export potential of the EEU states, further strengthening of integration business procedures. 

Within the visit to Yerevan, Askar Mamin took part in the presentation 'Contemparary paradigm of development within the EEU', as well as he got familiarized with the exhibition of commodities pf the processing sector of the EEU member states, as well as partook in the session of the Eurasian Economic Commission's COuncil. 

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