02:14
USD 69.74
EUR 79.24
RUB 1.05

Most problems in EAEU created by ill-considered government policies

Most of the problems in the Eurasian Economic Union were created by ill-considered policies of national governments. Adviser to the President of Kyrgyzstan Oleg Pankratov stated at Eurasian Economic Integration conference.

According to him, the initial impulse of economic integration has somewhat faded for five years. This can be seen on the agenda of the EAEU bodies. The union is increasingly moving away from strategic issues towards solving the current problems.

«Incorrect prioritization entails increased competition in the union and weakened overall relevance in competition in the global market. Taking into account international trends and the accumulated experience of unification, we need to look at the union from a new perspective,» said Oleg Pankratov.

The adviser to the head of state noted that decision-making in the EAEU takes place through consensus. This is attractive to member countries with small economies. At the same time, this principle is a big disincentive in making important decisions, when it is necessary to quickly respond to rapidly changing external environment.

«The President of Kyrgyzstan has already raised the issue of strengthening the role of the EEC and delegating a greater volume of competencies to the supranational level. As an example, I would touch on the subject of technical regulation. We have declared a single system. But we see that there are many reference norms. The rules are established by national authorized bodies. This becomes a tool for artificially restricted access of manufacturers of a country to the EAEU market,» Oleg Pankratov believes.

Popular