The signing of an agreement on the procedure for exchange of information incorporated in credit histories will help create conditions for development of cross-border crediting in the common financial market of the Eurasian Economic Union and will allow the citizens of member states of the Eurasian Economic Union to obtain loans in the territories of all five countries. This is what Prime Minister of Armenia Nikol Pashinyan said during the enlarged session of the Eurasian Intergovernmental Council.
Pashinyan stated that it has already been almost two years since the world, including Eurasian integration has been developing against the backdrop of the new global socio-economic challenges that emerged as a result of the pandemic, adding that this helped identify the demand for prompt solutions to the issues, including in the pharmaceutical industry.
According to Pashinyan, the restrictions and other measures for health maintenance of the population have generally had an impact on the effectiveness of many branches of economy. “This is reflected in the report on the state of reciprocal trade between the member states of the Eurasian Economic Union in 2020. The expansion of opportunities for electronic commerce is a qualitatively new mechanism for promotion of small and medium-sized businesses. At the same time, the increase of volume of cross-border electronic commerce poses new challenges for us. In the context of digital transformation, it is necessary to also consider the end of the complicated and delayed process of agreeing on the draft agreement on the use of navigation seals to follow cargo transportation in the Eurasian Economic Union,” Pashinyan said.