Single financial market of EEU to form by 2025
Single financial market of EEU will form by 2025, a member of the board of the Eurasian Economic Commission Timur Suleymenov said at the 10th International Conference "Eurasian economic integration."
According to him, such obligations were taken by all the countries of the integration association. Meanwhile, for the successful implementation of the project it is necessary to comply with two important conditions. "First, the EEU should form the common rules of the game. This suggests the need for harmonization of legislation in the financial sector. This work now is being actively conducted by all countries of the union," he said.
"The second important condition for the formation of a single financial market is administrative cooperation and practical cooperation between the governments and the central banks of EEU. Two contracts will serve for this ground. One of them was concluded in 2014. According to it, central banks will exchange information, including confidential. There was signed an agreement on currency liberalization. This currency regulation is almost abolished - except for some exceptional moments. We will have no barriers between countries in the transfer of revenue and the transfer of material assets," Timur Suleymenov said.