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10/29/2020 01:43:59

Moscow

10/28/2020 23:43:59

LUDWIGSBURG

Exchange rates

91,26 RUR

$77,55 RUR

Stable growth of the EAEU

 

The Eurasian Economic Union established on the basis of Customs Union and Single Economic Space keeps growing steadily. The Eurasian Economic Union comprises Armenia, Russia, Belarus, Kazakhstan and Kyrgyzstan and it already has made a lot of progress.

On 11th of April Belarusian President Alexander Lukashenko has signed a Customs Code of the EAEU. Belarus was not present at the session of the Eurasian Supreme Economic Council in Saint Petersburg, when the Code had been signed by other members of the Union.

It is also known, that the entry into force of the Customs Code could be postponed from July 1st 2017 to January 1st 2018. Ratification process goes slower, than expected. It is planned that key decisions on finishing the ratification of the Code and harmonizing the legislation are going to be made during the EAEU summit, which takes place in May.

After showing some signs of economic growth of its members, EAEU plans to expand even further. For example, Moldova has been approved to receive an observer status in the Union at the organization's next top-level meeting in October. Moldovan President Igor Dodon called it “an important and well-considered step”. The integration would be of huge importance for Moldova, both for social policy and economics. Even though it is a first step in the right direction, it is too early to speak of Moldovan membership in the EAEU.

 

Artikel: Roswitha Backes, E3M Business Consulting GmbH

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