13 january 13:30–14:15

CONTRIBUTION OF THE EAEU TO THE DEVELOPMENT OF THE MEMBER STATES: HOW TO GET AHEAD OF THE GROWTH RATE?

 Studio, Library
Panellists:
Alexey Overchuk, Deputy Chairman of the Government of the Russian Federation
Sergey Sinelnikov-Murylev, Rector of the Russian Foreign Trade Academy
Andrey Slepnev, Member of the Board - Minister in Charge of Trade of the Eurasian Economic Commission
The Eurasian Economic Union has been functioning for 6 years, and it has achieved significant results in such a short period. According to various estimates, from 30 to 40% of obstacles in the domestic market have been eliminated, the single market for services covers about 60% of services traded in the Union, preferential conditions of access to labor markets of the Union countries are provided for the EAEU citizens. The external contour of integration has been expanded by free trade zone agreements with Vietnam, Singapore, Serbia, an interim agreement with Iran and a non-preferential agreement with China. Integration solutions have an impact on the economies of all EAEU countries: in times of crisis they soften the fall, in normal situations they provide additional economic growth. The EAEU economies are better able to cope with the crisis than others (as shown by the example of the pandemic), but are growing more slowly than the rest of the world.
Thus, the EAEU has managed to build a sustainable platform that ensures stable, but still insignificant, growth. The next step is to reach a growth rate that outpaces the global one. To solve such a problem, it is necessary to implement the current strategic directions of Eurasian integration development, but it will also require going beyond them. Otherwise, the inertia of the Union's development cannot be overcome.


Discussion points:
• How is the EAEU's contribution to the economic growth of the member states assessed?
• The role of the EAEU in the recovery of the Union's economies after the pandemic: how fast is the EAEU recovering compared to other groups of countries, as well as integration associations? Where are we lagging behind others and where are we overtaking?
• What are the benefits and costs of current trade agreements with external partners for the EAEU countries? How will the external integration contour be expanded?
• How can the positive effects of integration be increased to outpace global economic growth? What constraints must be overcome to do so?
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