Call for new strategy to promote exports outside EAEU Economy

MOSCOW. KAZINFORM The current macroeconomic situation in the Eurasian Economic Union (EAEU) amid external challenges was discussed at a meeting of the economy ministers of the EAEU member states in Kyrgyzstan, BelTA learned from the press service of the Eurasian Economic Commission.

«Theparticipants of the meeting focused on the impact of restrictions in trade onthe macroeconomic situation in the EAEU member states and integrationprocesses. They also discussed the preparation of the document that outlinesstrategic areas for Eurasian economic integration through 2025,» the pressservice said.

Keychallenges were named that impact directly or indirectly the national economiesof the EAEU countries and the macroeconomic sustainability of the union. Theyare the slowing down of the global economy, the decrease in prices for rawgoods, risks related to the escalation of trading and economic controversies.The participants of the meeting stressed that it is necessary to take intoaccount the worsening external conditions in making up forecasts and improvingeconomic governance mechanisms. «They emphasized the need to continue workingtowards removing non-tariff barriers and also barriers in mutual trade, andagreed to develop effective mechanisms of cooperation for the implementation ofthe main provisions of the declaration on further development of integrationprocesses signed by the EAEU heads of state on 6 December 2018. Theparticipants of the meeting suggested developing a strategy to promote exportsoutside the union, expanding cooperation with third countries to diversifytrading flows,» the press service said.

Theparties agreed to continue the exchange of opinions on the most importantissues of the EAEU macroeconomic policy, including through regular meetings ofthe EAEU economy ministers and representatives of the Eurasian EconomicCommission.