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EAEU countries should come to common market of finances, securities by 2025

«By 2025, it is planned to create a common financial and securities markets of the countries of the Eurasian Economic Union,» Alexei Kudrin, head of the Accounts Chamber of Russia, said at the Eurasian Economic Integration conference in Moscow today.

According to him, its concept was approved in October 2019. It is necessary to prepare a program now. So, it is planned to switch to mutual recognition of licenses in the banking and insurance sectors. Until 2025, a partial harmonization of regulation of the banking sector is expected, and later — creation of a supranational regulatory body.

«The world is going through a period when integration processes have slowed down. There is potential for the market in trade, but this industry has paused now. This is due to trade and currency wars. The EAEU has challenges; those who stand for the policy of uniform standards, requirements for food products, and ecology will win more. We need to understand what standards states should adhere to,» Alexei Kudrin stressed.