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EAEU countries should be motivated to create Eurasian companies

«Large-scale projects based on commercial interest should play a major role in development of the EAEU economy,» Mikhail Myasnikovich, Chairman of the Board of the Eurasian Economic Commission (EEC), said at the Kyrgyz-Russian Business Forum.

According to him, the EEC proposes to work out new motivation tools for creation of joint ventures — Eurasian transnational companies. This is the commission’s participation in financing of cooperation projects by the Eurasian Development Bank (EDB), use of the resources of the Eurasian Fund for Stabilization and Development (EFSD), as well as the mechanism of interstate programs and projects.

The positive dynamics of the economy of the Eurasian Economic Union was noted this year. In the first half of the year, the volume of industrial production increased by 4.4 percent, and in the processing industry — by 6.5 percent. Consumer demand in the Union increased by more than 9 percent, the number of unemployed decreased by half.

Mutual trade in goods showed an increase of 31.9 percent.

«The Commission sees the need to create conditions for the joint entry of Eurasian business into foreign markets. In the first half of 2021, foreign trade grew by 24.5 percent, but this is not enough. The volume of the EAEU’s foreign trade is still about 2 percent of the global one,» Mikhail Myasnikovich concluded.