September 22
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Alexander Subbotin, a member of the collegium on the industrial and agro-industrial complex of the Eurasian Economic Commission, described problems for the development of the cooperation potential of the countries of the Eurasian Economic Union (EAEU), including the information barrier, the lack of common business ideas and the availability of modern technologies for the Union enterprises, RIA Novosti reported.

“First of all, this is an information barrier. Thus, industrial enterprises, as well as scientific and technical organizations, engineering and trading companies do not know much the market of neighboring countries and business partners,” Subbotin said in an interview with RIA Novosti.

He added that the second problem is the lack of common business ideas for joint cooperation in exporting and forming influence on world trade in certain sectors of the economy.

According to the minister, large-scale projects are currently needed that affect the global market, where the share of the EEU may be over 15% of the world market for international trade.

Subbotin believes that these projects can be in the field of grain, oil and fat products, nuclear fuel, biofuels, agricultural, municipal and special equipment, railway equipment, power engineering.

The fourth problem is the need to develop cooperation in the service sectors within the EEU, including by developing the export of services linked to industrial cooperation. The global export market for services is estimated at $ 5 trillion. The EEU occupies the 50th place in the rating of the exporter of services.

Finally, the fifth problem is the lack of availability of modern technologies for enterprises of the Union, Subbotin added.

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