The final meeting of the Supreme Eurasian Economic Council in 2022 will take place in Bishkek on Friday. Kyrgyzstan chaired the bodies of the Eurasian Economic Union (EAEU) this year.
The agenda of the meeting consists of 17 issues. In particular, the heads of state will study information on the sources and mechanisms for financing industrial cooperation projects within the EAEU. It is proposed to amend the Treaty on the EAEU in terms of empowering the bodies of the Union with the authority to financially assist the development of industrial cooperation at the expense of the budget of the Eurasian Economic Union.
The protocol is planned to be adopted for a five-year period with the possibility of extension.
The issue of the preparation of a draft international agreement on the formation of a common EAEU gas market will be considered. In particular, it is planned to make a decision on unsettled issues of the draft agreement, which contains, among other things, uniform rules for access to gas transmission systems located on the territory of the member states of the Eurasian Economic Union.
The presidents will study the work to remove obstacles in the internal market of the EAEU.
It is envisaged to take into account reference and analytical information on this issue. In addition, the issue of adopting an appropriate instruction aimed at developing effective mechanisms and improving the legal instruments of the EAEU to eliminate barriers, exemptions and restrictions that hinder the formation of a common economic space is being worked out.
At least 59 barriers, 13 restrictions and 10 exemptions have been removed in the EAEU since 2016.
As of November 1, 2022, about 48 obstacles (11 barriers and 37 restrictions) remain in the register of obstacles, the register of exemptions contains 364 exemptions.
The EAEU also plans to launch negotiations with the United Arab Emirates on concluding a free trade agreement.
Exports of Kyrgyzstan to the UAE in 2019-2021 increased by more than five times — from $10 million to $55 million. The main exported commodity groups are mechanical and electrical equipment, mineral products, optical equipment, honey, meat products (mutton), cigarettes, nuts (peeled). Imports increased by 32 percent, from $11 million to $15 million. These are prepared foods, mechanical and electrical equipment, chemical products, cigarettes, tobacco (for hookah), tea, and raw palm oil.
The agenda of the meeting also includes approval of the Main Directions for the International Activities of the Eurasian Economic Union for 2023. It is expected to sign a protocol on amending the procedure for collecting indirect taxes when providing services in electronic form. It provides for the introduction of VAT payment at the place of consumption of the service, similar to the principle of the country of destination, as well as the simplified registration of the taxpayer via the Internet in the state of consumption or conditional registration.
Russia will take over the chairmanship of the EAEU at the meeting.
