BISHKEK, Kyrgyzstan, May 29. Agreements
concluded within the framework of the Eurasian Economic Union
(EAEU) must function effectively in practice by simplifying
procedures, accelerating the movement of goods, and improving
mutual market accessibility, President of Kyrgyzstan, Sadyr Japarov
said during the meeting of the Supreme Eurasian Economic Council in
Astana, Trend
reports.
According to Japarov, the active conclusion of new trade
agreements within the EAEU creates significant opportunities for
manufacturers and exporters from member states.
He noted that EAEU trade agreements are currently in force with
Vietnam, Iran, China, and Serbia. In the near future, free trade
agreements with the United Arab Emirates, Mongolia, and Indonesia
are expected to enter into force. In addition, negotiations with
India are actively progressing, while the negotiation process with
Tunisia has commenced.
“I consider it necessary for the commission to develop concrete
initiatives aimed at expanding the scope of trade agreements,
including practical measures to strengthen sectoral cooperation
with our partners in specific industries,” Japarov stated.
The President of Kyrgyzstan emphasized that market
liberalization should be accompanied by the development of the
domestic industrial potential of the union’s member states.
He further noted that the current EAEU mechanism for subsidizing
interest rates on cooperative industrial projects will also be
extended to projects in the agro-industrial sector.
Japarov additionally stated that Bishkek expects an agreement on
a mechanism to stimulate the localization of joint production
capacities in countries with smaller economies to be reached by the
end of the year.
