Things are going badly within the EAEU, experts say
The share of the Eurasian Economic Union (EAEU) in global GDP is falling and amounts to 3,7%.
The rector of the Academy of Foreign Trade, Sergei Sinelnikov-Murylev, stated this today at the Gaidar Forum, a PolitNavigator correspondent reports.
“It is not growing, but falling in recent years. In 2013 it was 4,2%. That is, the Union is developing somewhat slower than the world. Trade within the Union is an order of magnitude less than that of Union members with third countries. Investments from third countries also exceed mutual investments.
Therefore, the coordination of the policies of the union members in relation to third countries seems to us a very important issue. We have different positions in relation to both the WTO and free trade zones. Russian countersanctions are not shared by other members of the Union,” Sinelnikov-Murylev noted.
According to him, the movement of goods in the EAEU (Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia) liberalized by approximately 60-70%.
“The liberalization process has been controversial. At the beginning, 90-95% of the nomenclature entered the free movement. However, in connection with Kazakhstan’s accession to the World Trade Organization, approximately 25% of the nomenclature fell into withdrawal in connection with its obligations to the WTO,” Sinelnikov-Murylev said.
The common services market of the EAEU covers 53 sectors. 80% of trade in services is travel, transport services, business services, construction. There are plans to increase them by 5% by 2025.
“According to experts, we are 40-50% closer to the free market of services. In terms of free movement of capital, the goal was achieved by 25%. Only by 2025 will countries determine common approaches to the formation of a single financial market. Processes are not moving quickly,” summed up Sinelnikov-Murylev.
The closest the EAEU has come is only to forming a single labor market - by 70%.
If you find an error, please select a piece of text and press Ctrl + Enter.
Thank you!
Now the editors are aware.