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Common oil and gas markets, digital economy, customs duties on agenda of EAEU summit

MOSCOW: A meeting of the Supreme Eurasian Economic Council will be held in St. Petersburg on 6 December. It will be attended by the presidents of the Eurasian Economic Union member states and the president of Moldova, which is an observer country at the Eurasian Economic Union, BelTA learned from the Kremlin press service.

“The forthcoming meeting of the Supreme Eurasian Economic Council is the second summit this year (the previous one was held on 14 May in Sochi). The meeting will review the results of Russia’s presidency in the EAEU and discuss the priorities for the further development of the Eurasian integration,” the Kremlin press service said.

The summit in St. Petersburg will include private talks and a working session. During the private talks the heads of the EAEU member states will address the most urgent issues of cooperation in the EAEU. The leaders will hear the report of the head of the Eurasian Economic Commission Tigran Sargsyan on the progress in the implementation of the EAEU digital agenda until 2025 which implies a coherent policy in the regulation of the Internet market and development of network technologies.

The heads of state will review the program drawn up by the Eurasian Economic Commission to develop the common oil and gas markets by 2025. The heads of state will harmonize the mechanism for distribution of customs duties between the EAEU member states. The heads of state will also discuss the further development of integration processes. “Russia has prepared a draft declaration on deepening integration within the Eurasian Economic Union. The document provides for more joint efforts to set up common markets for goods and services, develop trade and investment ties, and strengthen industrial and technological cooperation.

The document also suggests aligning the fiscal and monetary policies, developing efficient transport and logistics chains, bolstering social, humanitarian and educational ties,” the Kremlin said. The agenda of the working session will include issues related to multilateral cooperation, including the main areas of international activity of the EAEU in 2019, the interim agreement on a free trade zone between the EAEU and Iran and the trade and economic cooperation agreement with China. “The summiteers will consider ways to boost cooperation between the EAEU member states in space and geo-information services based on the national sources of Earth remote sensing data, and a number of other technical and organizational issues related to the Eurasian Economic Union,” the press service said.

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