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EAEU intends to increase competitiveness of business

The Eurasian Economic Commission (EEC), together with business, creates a favorable environment for growth of the competitiveness of industrial companies. Press service of the EEC reports.

It is noted implementation of the most demanded mechanisms for supporting industry, such as compensation for part of the interest rate on export loans, co-financing of the costs of participating in exhibitions of jointly manufactured products in third countries, concessional financing of investment projects with participation of enterprises of the Eurasian Economic Union in third countries are discussed.

The Chambers of Commerce and Industry of the EAEU countries previously sent a number of consolidated proposals to the EEC on the need to implement measures to support industry and demand for the Union’s products in demand by enterprises amidst overcoming the negative consequences of the COVID-19 pandemic for the economies of the EAEU states.

«It is necessary to unite the efforts of the business communities and participating countries for the practical implementation of the proposed mechanisms for supporting cooperation in the Union. Together we are ready to work to ensure that such solutions are in demand by business, create a favorable environment for the growth of the competitiveness of industrial companies in the EAEU and contribute to their innovative development,» Artak Kamalyan, Member of the Board (Minister) in charge of Industry and Agriculture of the EEC, stressed.