To expand the international agenda of the Eurasian Economic Union, special attention should be paid to countries of the far arc, said President of Belarus Alexander Lukashenko at a meeting of the Broad Eurasian Economic Council in Yerevan.

According to him, in order to expand the international agenda of the Eurasian Economic Union, special attention should be paid to the countries of the far arc, where Belarusian goods and services are still not well recognized, BelTA reported.

“We offer the Eurasian Development Bank to join this area. Our national development banks and other financial institutions should also look for forms for closer interaction both within the union and on the external side,” he said.

He praised the development of Eurasian Economic cooperation with third countries, including the development of an interim agreement on the creation of a free trade zone with Iran, which will enter into force in October, and a package of agreements with Singapore.

According to Lukashenko, to eliminate barriers in the space of the Eurasian Economic Union, it is necessary to make a political decision.

“Today we have empowered the commission with powers in matters of labeling of goods and the traceability of their movement. The EEU must ensure that these progressive proposals do not result in new barriers to trade. There are plenty of barriers in the union,” he noted adding that it is especially alarming when they are introduced in such sensitive areas as, for example, public procurement. 

“The time has come for the heads of state to consider a hot topic and make a political decision. Perhaps the competence of the Eurasian Economic Commission and the EAEU Court should be strengthened.

In 2020, Belarus will assume the chairmanship of the Eurasian Economic Union, its representative will head the EEC Board. Lukashenko noted that the country is preparing for this period with all seriousness. 

“The EAEU is a very young entity. Much more effort and money needs to be invested in its development in order to create a comprehensive and effective economic union, build common markets, form common industry policies and implement the provisions of the Treaty on the EAEU no later than 2025 or even earlier,” he said.