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Kyrgyzstan faces restrictions in EAEU instead of favorable conditions

«Instead of creation of favorable conditions for conducting legal activities in the single market of the Eurasian Economic Union, we face some restrictions,» the President of Kyrgyzstan Sooronbai Jeenbekov said the day before at an expanded meeting of the Supreme Eurasian Economic Council in Yerevan (Armenia).

According to him, work is currently underway to harmonize laws and create single markets in the EAEU. The volume of cash flows has increased, but there are obstacles. The President invited the financial regulators of the EAEU to develop a mechanism to eliminate the existing restrictions.

«We will adopt a concept of the common financial market of the EAEU today. This will increase the level of accessibility and quality of financial services for companies and citizens of the union. Earlier, we proposed the creation of the EAEU Development Institute. Support of implementation of our initiative will strengthen the economies of the Union countries and ensure their harmonious development and rapprochement,» Sooronbai Jeenbekov said.

The head of state drew attention to the fact that Kyrgyzstan was interested in integration into the EAEU, and also to the fact that the union has great potential for economic development of its member countries, which has not yet been fully fulfilled. Therefore, countries should strive to take measures to narrow the gap between the levels of economic development of the EAEU members.

Recall, the Prime Minister of Kyrgyzstan Mukhammedkaly Abylgaziev stated at the opening of the Eurasian Week Forum that restriction on money transfers was a violation of the provisions of the Treaty on the EAEU. Vice Prime Minister Zhenish Razakov, in an interview with reporters, called such measure a barrier. However, Veronika Nikishina, a Member of the Board (Minister) of the EEC for Trade, considers the introduced restrictions as an obstacle that arose due to incomplete integration.

This issue was also discussed at a meeting of the Council of the Eurasian Economic Commission. It was decided that the EEC would send a request to the Central Bank of the Russian Federation. They will jointly work out the issue and submit information to the meeting of the Eurasian Intergovernmental Council by the end of October.