We consider it important to strengthen the level of trust within the Eurasian Economic Union.

Armenia’s Prime Minister Nikol Pashinyan on Friday said the abovementioned in his address at the Eurasian Economic Commission (EEC)—the executive body of the Eurasian Economic Union (EAEU) which comprises Armenia, Russia, Belarus, Kazakhstan, and Kyrgyzstan.

In his words, the introduction of modern traceability systems for goods and freight will create a technical basis for such empowerment.

“We need to ensure that these systems are up-to-date and economical; we need to remove barriers, rather than create them,” Pashinyan added. “For Armenia, which has no common border with the integration association, digital traceability can be a guarantee for implementing all four freedoms without creating additional obstacles.

“We consider it expedient to take more active steps to harmonize the regulations and procedures applicable in the EAEU member states in the field of economy and trade, since the experience of recent years shows that a significant part of the obstacles faced by business are due to the lack of uniform and well-coordinated rules and regulations.

“As much important is the obvious need to improve the regulatory framework that ensures the effective and fair implementation of those people’s rights engaged in labor activities, as well as those pensioners who have contributed to the development of our countries.

“It is important to continue the development of trade and economic relations of the EAEU with third countries and associations. The signing of relevant agreements with Iran and China, and the completion of the ongoing talks with Singapore, Serbia, Egypt, Israel and India can give additional impetus to the process of integrating the Union into the global economy.

“Combining efforts to promote EAEU goods to foreign markets - in conditions of self-sufficiency of the Union in many sectors of the economy - is gradually becoming one of the main challenges for ensuring balanced growth of our economies. Such efforts will help the joint access of Eurasian producers to foreign markets and promote new cooperative chains within the Union.

“It is necessary to continue the efforts aimed at improving the level of accessibility, ensuring the growth and sustainability of the financial sector, as well as increasing the efficiency and development of competition in this market. We should also strive for a significant increase in the volume of EAEU-member states’ national currencies in settlements between the subjects of our countries.

“We are convinced that building up equal cooperation within the framework of our integration association should ultimately serve to create comfortable conditions for doing business and the full realization of human potential.

“I count on effective cooperation and support from all Member States in the practical implementation of the initiatives of the Armenian Chairmanship in 2019. I hope that in a year we will have a more consolidated and effective union serving the interests of our economies, states and peoples.”