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Jun 7, 2022
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Eurasian Economic Commission in 2021

The main areas of industrial cooperation within the EAEU need to be filled with new content

On May 31, 2022, the Eurasian Economic Commission (EEC) published an annual report dedicated to the tenth anniversary of its activity. In 2021, the Republic of Kazakhstan chaired the EEC and the topic of the report was “10 years for citizens of the countries of the Eurasian Economic Union”. The data presented in the report testify to the continuity and progressive development of the EEC and the Eurasian Economic Union as a whole.

Eurasian Economic Commission (Commission) is a permanent supranational regulatory body of the Eurasian Economic Union (EAEU). The Commission, within its powers, makes decisions that are binding on the parties, and recommendations that are not binding. The Agreement on the Establishment of the Eurasian Economic Commission dated November 18, 2011 provides for its two-level structure – the Council and the Collegium, whose activities are regulated by the Rules of Procedure of the EEC. Commission Council carries out general regulation of integration processes in the Customs Union and the Common Economic Space, as well as general management of the Commission’s activities. The Council of the Commission includes one representative from each side in the rank of Deputy Head of Government. The chairmanship of the Supreme Eurasian Economic Council, the Eurasian Economic Council and the Council of the Commission is carried out alternately for one year (in 2021, the Republic of Kazakhstan chaired these bodies). All decisions of the Council of the Commission are taken by consensus. Collegium is the executive body of the Commission, carrying out the development of proposals in the field of integration. The Board consists of 10 members (2 representatives from each side), one of which is the Chairman of the Board of the Commission. Board members are appointed for a term of 4 years. The personal composition of the members of the board of the Commission, including the chairman of the board, is approved by the Supreme Eurasian Economic Council at the level of heads of state on the proposal of the parties.

The Commission, within its powers, makes decisions that are binding on the parties, and recommendations that are not binding. Decisions of the Commission are adopted on the basis of voting by members of the Board of the Commission or members of the Collegium of the Commission, each of which has one vote.

The activities of the Commission are supported by its departments, whose employees are international officials. The working apparatus of the EEC consists of 25 departments that prepare drafts of various documents (decisions, orders, recommendations, international treaties) and exercise control over the implementation of decisions taken by the bodies of the Union and the provisions of signed international treaties that constitute the law of the Union.

For 10 years now, the commission’s multinational team has been building a single economic space for the free movement of goods, services and capital, and has also been working to shape the EAEU as a space of opportunities for citizens of the allied countries, where everyone can fulfill their potential. This is facilitated by the 2025 Strategy adopted in 2020, which provides for unlocking the potential of integration for people, improving their well-being and quality of life.

Largely due to the right strategy, in 2021 the EAEU ensured GDP growth by 4.6% (including in Armenia – by 5.7%, Belarus – by 2.3%, Kazakhstan – by 4.0%, Kyrgyzstan – by 3.6% and in the Russian Federation – by 4.7%). Record values, a historical maximum for the entire existence of the Union, were achieved in 2021 in foreign trade in goods – 844.2 billion US dollars (growth by 2020 by 35.1% or 219.6 billion US dollars) and in mutual trade – 72.6 billion dollars (growth by 2020 by 31.9%). In the domestic market, the unconditional priority remains the elimination of remaining barriers to mutual trade. In 2021, the EEC adopted a new version of the Methodology for separating obstacles in the internal market of the EAEU into barriers, exemptions and restrictions and recognizing barriers as eliminated. In accordance with this document, during 2021, 6 barriers were qualified, 3 barriers, 1 exemption and 2 restrictions were eliminated, and 4 obstacles with signs of barriers were settled ahead of schedule. Cooperative deliveries increased (by 31.6%).

The volume of industrial production of the EAEU in 2021 amounted to 1.4 trillion. dollars and increased compared to 2020 by 5.3%. (including in Armenia – by 3.3%, Belarus – by 6.5%, Kazakhstan – by 3.8%, Kyrgyzstan – by 9.0% and in the Russian Federation – by 5.3%, while the volume of agricultural production decreased by 1.4% (in Armenia – by 1.0%, Belarus – by 4.2%, Kazakhstan – by 2.4%, Kyrgyzstan – by 5.0% and in the Russian Federation – by 0.9 According to the leadership of the Commission, in order to give industrial cooperation a new impetus, it will be necessary to create joint ventures in the industrial and agro-industrial sectors and in the service sector, for which the potential of the Eurasian Development Bank (EDB) should be used to the maximum.

The creation of joint ventures and the strengthening of ties between industries of the Union Member States will also serve as an additional impetus for increasing the volume of mutual trade and removing barriers in the internal markets of the Union Member States.

Taking into account these priorities, it will be necessary to fill the “Main directions of industrial cooperation within the framework of the EAEU” with new content.

Investments in fixed assets in the EAEU as a whole in 2021 increased by 6.8%, the volume of completed construction work – by 5.4%, cargo turnover increased by 4.7% and passenger turnover – by 28.4% (including in Armenia – by 81.9%).

In addition, in 2021, the Commission additionally included 73 services in the single market of services (in particular, construction, design, engineering and related services), which will allow persons of some Member States to work in other EAEU states, as if at home, without discrimination, obtaining permits and qualifications.

In its work, the Commission maintains a comprehensive dialogue with key partners. The first level of dialogue is interstate, which provides for building effective interaction with national authorities in the process of developing and making decisions. The second level of dialogue is a direct form of work with the business community. For this purpose, 23 advisory committees have been established under the EEC Board (on certain areas of interaction).

Photo: ved24.com

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