The objective is to create conditions for the growth of good businesses. This is what member of the Board of the Eurasian Economic Commission for Industry and Agro-Industrial Complex Affairs (Minister) Alexander Subotin said during the panel session entitled “Opportunities for Export-Import of Products of EAEU Countries and their Partnership as the Basis for Transit Potential of the Eurasian Continent”. According to him, throughout its existence, the Eurasian Economic Union has made achievements, but a need to make corrections has also emerged.
“In essence, the Union is just beginning to expand. Based on the results of the six months of the year 2019, industry within the Eurasian Economic Union has grown by more than 2%. This low indicator is due to the unfavorable conditions amid the global trade wars. This goes to show that there is a need for new approaches, and businesses also have to be engaged in the development of those approaches. For this, it is necessary to agree upon the measures for the growth of industries and development of transport within the Union and work in the 19 specific branches of economy. Cutting logistics costs must also be a key component. Finally, if the Eurasian Economic Union wants to have its worthy place in world economy, it needs to work on establishing a transnational company,” he stated.