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“We look forward to having a common financial market in EAEU” - PM Attends Eurasian Intergovernmental Council Meeting in Kyrgyzstan


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Prime Minister Nikol Pashinyan, who is in Kyrgyzstan on a working visit, today attended the regular meeting of the Eurasian Intergovernmental Council (EAIC), which is being held at Ruha Orda Cultural Center after Aitmatov in Cholpon-Ata town of Kyrgyzstan.

Prior to the meeting, the heads of government of EAEU-member states were received by President of the Republic of Kyrgyzstan Sooronbay Zenebekov.

Kyrgyzstan Prime Minister Muhammadkali Abilgaziyev met the heads of government of EAEU-member countries at Ruha Orda Cultural Center after Aytmatov.

After attending a protocol photo session, the EAEU Prime Ministers met in narrow and expanded formats. As the head of EAEU-chairing country, the Prime Minister of Armenia addressed the meeting with opening remarks:

“Dear participants,
Ladies and Gentlemen,

First of all, I wish to thank Prime Minister of the Kyrgyz Republic Mohammedkal Abilgaziyev for the warm welcome and hospitality, as well as for proper organization of today’s event.

At the narrow-format meeting, we exchanged views and made decisions over conceptual issues related to today’s agenda. Nevertheless, I would like to draw your attention to some aspects that are important for our countries.

As far as the alcohol market regulations are concerned, I consider it necessary to note that as a whole, the EAEU-member countries stand for the removal of barriers in this field. The alcohol market is a priority for Armenia as it offers wide export opportunities in the markets of the Eurasian Economic Union.

We consider it important to achieve a final decision on the distribution of import customs duties between the Member States’ budgets. This issue has been discussed in our organization for a long time and needs to be resolved as soon as possible.

We attach particular importance to the establishment of a common EAEU financial market, which will be facilitated and promoted by the entry into force in 2020 of the Agreement on Harmonization of EAEU-Member States’ Legislations in the Sphere of Financial Market.

Signing agreements to allow brokers and dealers in one Member State to trade on the stock exchanges of other Member States is also essential in this regard. In this matter, we consider it important to provide opportunities for the placement and circulation of securities at tenders held in the Member States and for exchange of information on credit records.

All member countries of our Union confirm their interest in agreeing on the concept of cross-border information interaction. The implementation of this document will have a positive impact on the implementation of business processes between public and private institutions of the Union countries.

We consider the signing of the Agreement On Transboundary Movement of Hazardous Waste Materials through the Customs Territory of the Eurasian Economic Union to be absolutely timely. The implementation of the provisions of this Agreement is consonant with the priorities of Armenia in the field of healthcare and environmental protection.

We attach great importance to ensuring that the subjects of our countries working in the agricultural sector have generalized information on the demand and supply of agricultural products in the member states of the Eurasian Economic Union. This sector of the Armenian economy has wide opportunities for expanding exports and is a priority for our government.

Dear friends,

Taking this opportunity, I wish to inform you that in early July this year I traveled to the Socialist Republic of Vietnam and the Republic of Singapore on official visits. As a country chairing the EAEU, we paid special attention to cooperation between the EAEU and the aforementioned countries. We discussed the possibility of expanding trade and economic cooperation, and in particular, the signing of a free trade arrangement between the EAEU and Singapore.

Agreement was reached in principle to the effect that should the negotiation process be completed in a timely manner and the draft agreed, the Prime Minister of Singapore might attend the Supreme Eurasian Economic Council meeting in Yerevan, at which a relevant agreement would be signed. On this issue, I obtained the consent of the leaders of all the countries concerned.

Taking this opportunity, I want to turn to the EAEU-Member States and to the Board of Management with a request to expedite as quickly as possible all necessary procedures related to the approval of the draft agreement for its successful signing on October 1 in Yerevan. I am hereby asking you to take this issue under your personal control.

In line with the agreements reached the heads of EAEU-Member States, I have invited the President of Iran to participate in the Supreme Eurasian Economic Council’s Yerevan meeting.

Also, I would like to inform you that on September 30 - October 1, an international forum will be held in Yerevan on the margins of the upcoming meeting of the Supreme Eurasian Economic Council, referred to as “Transit Potential in the Eurasian Continent.”

In this regard, I am asking you to ensure the widest possible participation of representatives of public and private institutions of your countries at this important event. The heads of all EAEU-Member States and partner countries are invited to attend the forum.

The forum is expected to discuss topical issues of developing transport and logistics networks throughout the continent, prospects for developing new and completing the ongoing large-scale infrastructure projects, as well as issues related to the development of digital corridors in the Eurasian region. Thank you.”

The Heads of Government of EAEU Member States discussed issues on the distribution of import customs duties between the budgets of the EAEU Member States, the development of the EAEU common financial market, the creation of a common alcohol market within the EAEU, the establishment of cross-border companies, cross-border information interaction, cooperation in the field of industrial cooperation and technology transfer, the signing of a draft agreement on cross-border movement of hazardous waste materials through the customs territory of the Eurasian Economic Union, as well as on the development of the agricultural sector in the EAEC.
Following the meeting, a number of documents were signed, including the decree on import customs duties distribution standards between the budgets of Member States, the timetable for forming a common financial market in the EAEU, as well as decisions and orders aimed at deepening cooperation between the EAEU-member countries in the aforementioned areas.

The concept of common financial market is expected for signing on October 1 at the meeting of the Supreme Eurasian Economic Council in Yerevan. It was decided to hold the next meeting of the Eurasian Intergovernmental Council on October 25, 2019 in Moscow.

In conclusion, the EAEU heads of government attended the first-day-of-issue dedication ceremony for stamps to celebrate the 5th anniversary of the Treaty on the Eurasian Economic Union and the 25th anniversary of the Eurasian integration idea.

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