The Heads of Government of the Eurasian Economic Union (EAEU) signed a concept of forming a common commodity exchange market in Yerevan.
As the Eurasian Economic Commission (EEC) noted, this document will help develop the national exchanges of the Eurasian «Five» and will enable businesses to expand their sales markets. At the same time, consumers will gain access to goods, the prices for which will be formed on a competitive basis.
The main goals of forming a common commodity exchange market are the formation of objective market prices for exchange goods, the growth of trade volumes in the union, an increase in the share of settlements in national currencies and the formation of fair pricing for EAEU goods on the world market.
At the same time, issues of exchange trading in energy goods will be agreed upon as part of the work on forming common markets of energy resources.
The subjects of the common commodity exchange market will be the organizers and participants of trading, infrastructure organizations providing services for the storage and transportation of goods, as well as settlement and clearing services to participants of the common exchange market.
The exchange of information between the organizers of trading and infrastructure organizations of the EAEU member states will be carried out by mutual agreement to the extent necessary to ensure the effective operation of the common commodity exchange market.
For the interaction of the bodies of the member states authorized to regulate exchange trade and the entities of the common commodity exchange market of the EAEU, a consultative body is being created — the Exchange Committee.
The next step in creating a common commodity exchange market will be working out of a program for the development of exchange trade within the EAEU, which is planned to be approved at the level of Heads of Government by the end of 2024.
