Intergovernmental council of the EAEU was in Yerevan]

A meeting of the Intergovernmental Council of the Eurasian Economic Union (EAEU) was held in Yerevan, with the participation of the Ambassador of Kyrgyzstan to Russia, Armenia and Greece Alikbek Dzhekshenkulov, Kommersant reported (10.10.2020).

The Prime Minister of Kazakhstan Askar Mamin called the current drop in the volume of the world trade “a greater risk” than the global crisis of 2008-2009. According to the Eurasian Economic Commission (EEC), the volume of mutual trade between the five countries in January-July 2020 compared to the same period in 2019 decreased by 13.4%, to $ 29.3 billion. The volume of foreign trade of the EAEU countries decreased even more significantly – by 17.3%, to $ 342 billion.

Against this background, as the Russian Prime Minister Mikhail Mishustin noted at the meeting, the priority remains the general strengthening of the market of all the countries of “the five”.

The basis for this should be created by the forthcoming EAEU development strategy until 2025. The draft of this document, as the chairman of the EEC board Mikhail Myasnikovich said, “was very difficult to agree on, because it actually closes the gaps that were not fully resolved within the EAEU legal framework.” In total, the strategy will include 330 events. Five issues have not yet been agreed upon – in particular, about hydrocarbon trade and about development institutions. They will be submitted for consideration by the heads of state of the EAEU countries. Their next meeting is planned for December this year in Minsk.