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EAEU needs green corridors for delivery of goods in crisis situations

The President of Kyrgyzstan proposed a number of measures within the Eurasian Economic Union aimed at consolidating joint efforts amid spread of coronavirus infection. Sooronbai Jeenbekov stated it at a working meeting of members of the Supreme Eurasian Economic Council in a video conference format.

The head of state stressed that in conditions of universal isolation and forced closure of borders between the countries, the organization of green corridors is necessary, which will enable uninterrupted delivery of humanitarian supplies, basic foodstuffs and medical supplies. The president proposed to compile a list of goods that will move freely between the countries. He noted the need for a set of joint measures aimed at budget and tax incentives for business.

«The Eurasian Development Bank and the Eurasian Fund for Stabilization and Development should be of particular importance for the economy of our countries. In the current conditions, it is necessary to reorient the work of these structures. It’s time to review some of the principles of the fund. It is necessary to reduce time for consideration of loans for budget support in crisis situations and increase the share of financing on a grant basis,» Sooronbai Jeenbekov said.

The head of state added that the Eurasian Development Bank can play an important role in creating new mechanisms to support small and medium-sized businesses. The bank must promptly finance enterprises for production of medical and food essentials. As a mutual support, he expressed readiness to direct resources of these financial institutions to providing the Union countries with agricultural products.

In addition, he noted the importance of supporting the potential of national banks and the financial sector for providing the necessary resources to the economies of the EAEU, including soft loans for small and medium-sized businesses, development of financing mechanisms and beginning of their implementation.

Sooronbai Jeenbekov proposed to organize a joint work of the Union’s medical services for a quick response to the situation.

«I consider it necessary to take measures by the Eurasian Economic Commission to nullify import duties on medical products. It would be timely and appropriate to do the same for socially significant goods intended to ensure food security of the countries of the union,» the president stressed.

Sooronbai Jeenbekov proposed to adopt a single mechanism of social and medical support for all citizens of the EAEU during this difficult time.

The head of state stressed that the legal framework of the EAEU allows taking measures to minimize the negative consequences of the pandemic on the economy of the Union countries, the health and lives of citizens.

«Restrictive measures should not become «economic isolation» within our union. The EAEU single market should operate without barriers, restrictions and exemptions. Introduction of restrictions on the export or import of goods is justified only in relation to third countries. We have every opportunity to provide the population of our countries with basic food products. There should be no restrictions on mutual trade in socially significant goods within the EAEU,» the president said.