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Deep integration of the economies of the EAEC countries should be improved taking into account the world trend for protectionism

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13.09.2018
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The Eurasian Economic Union (EAEC) is moving along the path of deep integration, and this integration model should be improved taking into account world trends in which elements of increased protectionism are visible. This was stated by the Chairman of the Board of the Eurasian Economic Commission (TEC) Tigran Sargsyan during the discussion "Modern integration agenda of the APR: openness or protectionism. Lessons for the EAGE ", which was held in the framework of the Eastern Economic Forum in Vladivostok on September 12.

Participants in the discussion, among them the member of the ECE Collegium Veronika Nikishina, the director of the Institute of Trade Policy of the Higher School of Economics, Alexander Daniltsev, the president of the Russian Union of Industrialists and Entrepreneurs Alexander Shokhin and others, discussed the latest trends in the current integration agenda and the behavior of the Eurasian Economic Union changes in the nature of trade and economic processes. On the one hand, today, in the Asia-Pacific region (APR) and beyond, protectionism is growing and trade conflicts are escalating; on the other hand, adherence to the principles of joint economic development through economic integration remains.

"Today, the APR is at the forefront of world change and the focus of literally all the economies of the world, because it is the main driver of world economic growth. This trend will continue in the next decade, which means that the forms of cooperation with the region will attract interest, "Tigran Sargsyan said. - The EAEC is a fairly young association. It is obvious that the model that we have adopted as a basis, namely, the deep integration of the five economies with the formation of a supranational body, should be improved taking into account global trends so that our association will get maximum economic benefits. "

The Chairman of the ECE Collegium recalled the fundamental changes that are taking place in the world, including the "freezing" of agreements on the Trans-Pacific and Transatlantic partnerships.

According to Tigran Sargsyan, the EAEC is on the path of integration, this is the mission of the Union. "We are striving to remove barriers, withdrawals and restrictions, we see in this the potential for economic growth, but there are global trends that can not but affect our economies," the Chairman of the ECE Collegium said.

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