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EAEU countries should compete with global external markets rather than with each other

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24.10.2018
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The countries of the Eurasian Economic Union must build relationships effectively in order to compete with global external markets rather than with each other, Deputy Prime Minister of the Republic of Armenia Mher  Grigoryan stated on October 23 at the plenary meeting "Technological  Breakthrough and EAEU Potential " during the third International  Forum of the Eurasian Partnership.

According to him, if cooperation within the Union is based solely on the principles of exemptions, then the business will lose its motivation and will be less inclined to internal development. "The more barriers we remove, the more there will be a technological breakthrough," Mher Grigoryan said, pointing out in this context the need to harmonize the legislation of the EAEU countries.

The Deputy Prime Minister also stressed the importance of consolidating efforts to revitalize the business.  "The Union should have an exchange for new technological and digital solutions," the  Deputy PM believes.  In the conditions of transport blockade,  expensive logistics, and energy resources, Armenia places emphasis on the intellectual component. In particular, the matter concerns the information technology sector, which is well developed in the republic. However, the achievements of Armenia in this field are not well replicated in the EAEU space.

To note, today is the second day of the Eurasian Week Forum, which is aimed at creating opportunities for the development of cooperative ties in the Eurasian space. The focus of the Eurasian Week is creating a favorable business climate, strengthening production ties,  developing export potential, creating attractive conditions for foreign investors. The forum is intended to be an effective platform where business and expert circles, authorities of the EAEU member states and third countries can discuss the main issues of economic development in the context of global challenges and jointly develop strategic solutions. This year, for the first time, a large-scale exhibition of export and cooperation potential takes place, in which more than 120 companies take part, from agriculture, light industry,  precision engineering, IT, and innovative building materials, jewelry industry, pharmaceuticals. Over 2.5 thousand participants from more than 25 countries registered on the forum. Within the framework of the Eurasian week, 35 events are planned. 

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