Saturday, September 25, 2021

Russia wants to beef up digital economy in EAEU countries

Russian Prime Minister Dmitry Medvedev has announced that he expects members of the Eurasian Economic Union (EAEU) to reach final agreements on tariffs at Today’s Summit of the EAEU Intergovernmental Council in Kyrgyzstan.

The PM stressed the need to address key issues concerning the development of the digital economy and the development of a common financial market in the region.

The EAEU is an economic union of states located in Central Asia and Eastern Europe. The EAEU Treaty was signed on 29 May 2014 by the leaders of Russia, Belarus and Kazakhstan, and came into force on 1 January 2015. The regional group has an integrated single market of 183 million people and a gross domestic product (GDP) of over USD $4 trillion (PPP)

“Today, we will discuss pressing issues related to the Union’s activities, including supranational regulations. I hope that we will reach final agreements on the issue you have just mentioned, I mean, tariff distribution,” Medvedev said at a meeting.

“We have achieved certain success indeed. Administrative barriers are coming down, though not as fast as we would like them to,” Medvedev noted.

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