Responsible Secretary of the Organising Committee of the St. Petersburg International Economic Forum, Anton Kobyakov, reports that 982 agreements were concluded during the forum. Their total amount exceeds 6.4 trillion rouble.
"At the forum venue, 982 agreements were signed totalling 6.43 trillion rouble. This is only what is not considered a commercial secret," said Kobyakov at the final press conference of the SPIEF.
The largest number of agreements at the forum was concluded by St. Petersburg. The city signed 69 contracts totalling 1.22 trillion rouble.
Anton Kobyakov also reported that over the four days of the SPIEF, 21.3 thousand people from 139 countries participated in it. The forum's work was covered by 4.2 thousand media representatives.
The SPIEF took place in St. Petersburg from June 5 to 8. On June 7, Russian President Vladimir Putin spoke at the plenary session of the forum. The SPIEF was also attended by the President of Bolivia, Luis Arce, the President of Zimbabwe, Emmerson Mnangagwa, and the head of Srpska (part of Bosnia and Herzegovina).
Reported by Kommersant (Russia).
https://www.kommersant.ru/doc/6760408?from=spot

Young Russians become financially independent

The vast majority of young people aged 18 to 35 have experience in earning money on their own, a study by Ingosstrakh and the NAFI Analytical Centre showed. Every second person earned their first rouble after turning 18, and 43% received their first earned income before reaching adulthood. The peak ages for starting work are 14, 16 and 18 years. Today, 71% of young Russians can be classified as working youth. The main source of income for the majority of respondents is salary (50%). Every fourth (23%) receives social benefits and payments, every sixth (17%) receives financial support from their parents, and 5% have their own business.
The study showed that 83% of young Russians do not receive financial support from their parents; 5%, on the contrary, live exclusively at their expense. The age of financial independence most often becomes adulthood (27% of respondents); 23% stopped regularly receiving money from their parents even earlier.
Reported by Kommersant (Russia).
https://www.kommersant.ru/doc/6747678?from=spot

Russian economy chooses growth structure

A fresh portion of Rosstat data and estimates for January–April 2024 records a new anti-record unemployment rate of 2.6% and a continued increase in demand for scarce labour. In annual terms, the growth of real wages accelerated in March to 12.9% (10.8% in February and 8.5% in January), however, estimates by the Centre for Macroeconomic Analysis and Short-Term Forecasting (CMASF) record a decrease in the average monthly growth rate in the first quarter of 2024 year to 0.3% from 1.6% in the fourth quarter of 2023. Real disposable income in the first quarter was 5.8% higher than a year ago, 5.6 percentage points of which came from wage growth.
In April, the Ministry of Economy and the Centre for Economic Cooperation again differed noticeably in their assessments of the dynamics of private consumption, taking into account the seasonality. The ministry believes that total consumption (goods, services, cafes and restaurants) decreased over the month by 0.2% with a contraction in purchases of goods (by 0.5%). In CMASF that the consumption of manufactured goods (machines, equipment), services and public catering grew rapidly and in April as a whole increased by 1% (2.1% in March). Rosstat’s estimates (based on average monthly indicators for 2021) record an acceleration in the growth of demand for services and public catering and its attenuation for goods. Sberindex data may indicate a jump in private demand in May as well.
The growth of capital investments at the end of the first quarter of 2024 exceeded last year’s level by 14.5% after an increase of 8.6% a quarter earlier (for the full range of organisations). According to Rosstat estimates, taking into account seasonality, in the fourth quarter of 2023 the volume of capital investments exceeded the average quarterly level of 2021 by 25%, and in the first quarter of 2024 by 26%. Investments are increasingly being made from companies' own funds (61.9% of all sources of investment versus 60.2% a year ago).
The Ministry of Economy believes that in April 2024, GDP exceeded last year’s level by 4.4% versus 4.2% in March, and taking into account seasonality, its growth was 0.2% per month (0.1% in March). However, the expectations of economic agents are worsening, and the Centre for International Economic Relations records a slowdown in investment activity in the second quarter. The May PMI index for Russian services indicated a decline for the first time in a long time, and the composite PMI (industry and services) indicated a rapid deterioration in intra-year GDP dynamics.
By Artem Chugunov for Kommersant (Russia).
https://www.kommersant.ru/doc/6747137?from=main

Russian market returns to growth

The Russian stock market started trading on Monday on the positive side, but in the afternoon the indices showed multidirectional movements. By 14:20 Moscow time, the Moscow Exchange index dropped by 0.26% to 3,224.96 points, the RTS index grew by 0.09% to 1,144.26 points.
Despite the respite, this week the Russian market is expected to resume attempts to grow after the correction at the end of May. “The reason for the recovery was the Central Bank’s decision to keep the key rate at 16%, when many experts and the debt market had already planned for an increase to 17%. However, at the press conference of the Central Bank, Elvira Nabiullina clearly stated that there is a possibility of a sharp rate increase at the July meeting, which suggests that next time the rate could be raised immediately to 18%. In this regard, the current attempt at recovery seems to be the calm before the storm,” says Nikita Stepanov, an analyst at Finam Financial Group.
The growth leaders were led by shares of En+ Group (+5.2%), growing after the signing of an agreement to invest about 331 billion rouble in the creation of new electricity generation capacities in the Irkutsk region.
Strong growth in the IT sector is shown by Ozon receipts (+2.1%), approaching May highs, having almost completely recovered after the market correction.
Growth was shown by shares of Mechel (ord +2.7%, pref +2.7%), Seligdar (+2.5%), Polymetal (+2.2%).
The outsiders were MMK shares (-2%), falling in price after passing the dividend cutoff.
Positive Technologies shares were sagging (-1.8%). Vladimir Chernov, an analyst at Freedom Finance Global, explains that the downward movement comes amid anticipation of a decision on an additional share issue scheduled for July 10, which will entail dilution of earnings per share, which is unfavourable for investors.
The shares of MMK (-2%), Segezha (-1.7%), Etalon (-1.7%), PIK (-1.6%), RusAgro (1.5%), Lukoil (-1.1%) went negative.
Nikita Stepanov notes that the Moscow Exchange index is now fixed in a narrow range of 3,150–3,270 points. Coming out of it upward and consolidating above 3,270 points can open the way to growth to 3,500 points.
Alexey Golovinov, chief analyst at PSB, admits that today the market growth will continue at the expense of those investors who refrained from buying on Friday. “In addition, the removal of uncertainty regarding the decisions of the Bank of Russia can also support the market. However, the situation in this case may change quickly, which will again put pressure on the market in the future. Preference should be given to domestic sectors.”
The rouble remains below 90 per dollar on Monday. “The rouble exchange rate continues to be supported by sales from exporters, the regulator’s strict monetary policy, as well as foreign currency sales by the Central Bank. In the short term, we expect quotes in the range of 87.5-90.5 rouble per US dollar,” comments Anton Pustovoitov, head of the fixed income management department of Management Company Pervaya. At Forex trading, the dollar was growing slightly to 89.06 rouble, the euro was sinking to 95.62 rouble.
Meanwhile, the oil market is experiencing weak dynamics. Brent fell into the $76–80 per barrel corridor last week and can’t get out of it. Plus, the decrease in trading volumes was caused by a holiday in China. Brent oil was growing weakly to $79.79 per barrel, Light oil was sagging to $75.64 per barrel.
On Tuesday, investors will expect the publication of the monthly OPEC report and the short-term forecast for the energy market from the EIA. The IEA's monthly report is due on Wednesday.
By Anastasia Dolgikh for Finam (Russia).
https://www.finam.ru/publications/item/rynok-eshche-vernetsya-k-rostu-20240610-1425/

Growth of financial flows of Russia accelerates in May
The growth of financial flows accelerated in May. As stated in the commentary of the Central Bank of Russia, the volume of incoming payments made through its payment system increased by 12.3% in May compared to the average level of the 1st quarter of 2024 (in April the growth was 3.3%).
Financial flows increased in all major groups of industries. The greatest growth was observed in the group of sectors of external demand 26.3% against 2.9% growth in April. The main driver of this trend was crude oil and gas production, reflecting the arrival of export revenues in early spring.
Payments in May excluding production, petroleum products and government administration increased by 3.8% (April: +2.6%).
Incoming payments in consumer demand industries accelerated to 7.1% in May (April: +2.2%) compared to the average level of the first quarter of 2024. “Such a significant increase in payments and its sectoral structure indicate a clear increase in consumer consumption in May,” says the Bank of Russia.
The driver of growth was retail trade. Increased revenues were also observed in wholesale trade, financial services and real estate transactions. Education and healthcare had a moderating effect.
Financial flows in government demand sectors in May increased by a significant 15.6% against 2.3% growth in April.
The growth of incoming payments in sectors of investment demand slowed to 0.5% from 6.8% growth in April.
The volume of receipts in intermediate demand sectors increased by 12.9% (an increase of 3.6% in April), notes the Central Bank of Russia.
Reported by Finmarket (Russia).
http://www.finmarket.ru/news/6193353

Trade balance surplus of Russia in January-April increases by 18.8%
The positive foreign trade balance of Russia in January-April 2024 increased by 18.8% and amounted to $50.5 billion compared to $42.5 billion in January-April 2023.
According to published data from the Federal Customs Service (FCS) on exports and imports, exports of goods from Russia in January-April 2024 decreased in annual terms by 0.3% to $135.1 billion, imports decreased by 9.1%, to $84.6 billion
Exports of goods from Russia to Europe in January-April 2024 amounted to $21.0 billion, decreasing by 39.7%, to Asia to $101.4 billion, increasing by 11.1%, to Africa to $7.8 billion, increasing by $32.2%, to America to $4.8 billion, an increase of 39.6%.
Imports to Russia from Europe in January-April 2024 amounted to $22.2 billion, decreasing by 19.2%, from Asia to $56.5 billion, decreasing by 3.6%, from Africa to $1.1 billion, decreasing by 4.5%, from America to $4.5 billion, a decrease of 18.9%.
Exports from Russia of mineral products in January-April 2024 amounted to $84.7 billion, an increase of 2.6%, metals and products made from them to $17.7 billion, a decrease of 4.4%, food products and agricultural raw materials to $14.2 billion, decreasing by 4.8%.
Imports to Russia in January-April 2024 of machinery, equipment, vehicles and other goods amounted to $42.8 billion, a decrease of 4.2%, chemical industry products $16.0 billion, a decrease of 19.8%, food products and agricultural raw materials $11.5 billion, decreasing by 8.6%.
As reported, in 2023 the positive foreign trade balance of Russia amounted to $140 billion, which is 58.5% less than the figure for 2022 ($337.2 billion). Exports of goods last year, according to the Federal Customs Service, amounted to $425.1 billion, decreasing by 28.3% compared to 2022 ($592.5 billion). Imports in 2023 reached $285.1 billion, an increase of 11.7% compared to 2022 ($255.3 billion).
Reported by Finmarket (Russia).
http://www.finmarket.ru/news/6193266

Exports of chemical industry products from Russia for 4 months in monetary terms decrease by 2.5%
Exports of chemical products and rubbers from Russia in January-April 2024 decreased by 2.5% compared to the same period in 2023 and amounted to $8.7 billion, according to the Federal Customs Service materials published on the customs service website.
As reported, chemical goods worth $6.1 billion were exported in January-March. Thus, April receipts from products sold abroad amounted to $2.6 billion (+18% compared to April 2023).
Imports of chemical industry products in January-April decreased by 19.8%, to $16 billion.
In April, Russian companies imported $3.8 billion worth of products, which is 20.8% less than in the same month of 2023.
We are talking about goods under codes 28-40 of the foreign economic activity commodity nomenclature. These include, in particular, inorganic and organic chemical products, pharmaceutical products, fertilisers, dyes, essential oils and resinoids, perfumes, detergents, lubricants, adhesives, explosives, photographic and film products, other chemical products, as well as plastics, rubber, rubber and products made from them.
Reported by Finmarket (Russia).
https://www.finmarket.ru/news/6193267

Russian Ministry of Economic Development may improve forecast for investment growth in 2024
The Ministry of Economic Development may improve the forecast for investment growth in 2024, Russian Minister of Economic Development Maxim Reshetnikov did not rule out at the session “Russian Economy: How to Ensure the Achievement of National Goals” at the St. Petersburg International Economic Forum.
The head of the department recalled that the current version of the forecast assumes an investment growth of 2.3%, taking into account the high base of 2023. “The data from the first quarter probably allows us to revise this figure. We will prepare a forecast in the summer,” he said.
The growth of investment activity in the 1st quarter of 2024 accelerated to +14.5% yoy after +8.6% yoy in the 4th quarter of 2023 and repeated the record of the 3rd quarter of last year. The key continuing trend is the preservation of private entrepreneurial initiative. Private investment is growing faster in the 1st quarter of 2024 +15.3% yoy after +7.8% yoy the previous quarter. The main resource for investment is the own capital of organisations (investment growth from own sources +18.0% yoy after +15.3% yoy in the previous quarter), accumulated in a successful financial year 2023.
Reported by Finam (Russia).
https://www.finam.ru/publications/item/minekonomrazvitiya-mozhet-uluchshit-prognoz-po-rostu-investitsiy-v-2024-godu-20240606-1229/

KAMAZ builds robotic truck manufacturing plant in Moscow
"We have reached an agreement with the First Deputy Prime Minister Denis Manturov and the CEO of KAMAZ PAO, Sergey Kogogin, to establish the first robotic plant in Russia for the production of medium-tonnage and heavy-duty trucks," writes Sergei Sobyanin. It is planned that about 40,000 vehicles will be produced annually at the Moscow automobile plant. The trucks will be used in construction, logistics, agriculture, and other sectors.
For the construction of the advanced production centre, the investor will be allocated a land plot of 60 hectares. 1,400 people will be able to find employment at the enterprise.
The total investment volume in the project will amount to 50.2 billion rouble."
Reported by Metal Supply and Sales (Russia).
https://metalinfo.ru/ru/news/161711

Trade volume between Russia and USA grows by 20% in April
Trade volume between Russia and the USA grew by 20% year-on-year in April and amounted to $332 million, according to calculations by RIA Novosti based on data from the American customs.
It is noted that Russia's exports increased by 37% year-on-year, reaching $298 million, with fertilisers being the key commodity in the export structure. Thus, in April 2024, the USA imported 1.6 times more fertilisers than in the same period of 2023, totalling $164 million. Platinum ranks second, with deliveries increasing 32 times to $94.2 million.
Meanwhile, import volumes decreased by 48% year-on-year, to $34 million, with the main part of American exports consisting of food products.
Reported by Finam (Russia).
https://www.finam.ru/publications/item/obem-torgovli-mezhdu-rossiey-i-ssha-vyros-vaprele-na-20-20240609-0926/

Experts from Russian University of Economics estimate contribution of companies that left Russia at 3.4% of GDP
At the end of 2023, 1.5 thousand foreign companies announced they were leaving Russia, 942 were suspending operations, 553 were reducing operations, and 885 were abandoning investments, according to a report by experts from the research association REU after Plekhanov. According to experts, 666 companies actually left the market they liquidated the legal entity or changed owners. The contribution of departing companies in 2023 was estimated at 3.4% of GDP (3.7 trillion rouble), in the total volume of investments at 0.5% (102 billion rouble), their share in revenue was 1.8%, in employment 0.6%.
With reference to the report “The Place of Outgoing Foreign Companies in the Economy of Industries and Regions of Russia,” the experts came to the conclusion that the contribution of outgoing and departing foreign companies was relatively small. The assessment was based on data from the Yale School of Management and SPARK-Interfax.
The contribution to the GDP of companies that announced their departure (not just those that left) amounted to 4.5% (4.9 trillion rouble), to the total volume of investments 0.5% (102 billion rouble). Their share in the total revenue of organisations was 2.3% at the end of 2023, and in employment 0.8%.
The industries hit hardest by contribution to employment and revenue, respectively (among those announcing exits):
• production of tobacco products by 27% and 17%,
• automotive industry by 14% and 23%,
• pulp and paper industry by 9% and 14%,
• beverage production by 4% and 10%.
In the service sector, the contribution of the companies that announced their departure is largest in the hotel industry, catering and communications (3-4% in employment, 8-10% in revenue). The financial and insurance industries, scientific and technical activities, trade and auto repair also suffered (up to 2.3% and 4.1%, respectively).
The most affected regions are four groups of entities: with a diversified economy (Moscow, St. Petersburg and the Moscow region), industrial (Tatarstan and the Tula region), automotive (the Kaluga, Samara, Leningrad regions) and timber processing (Karelia and Komi, the Novgorod region). It is also noted that the oil-producing Sakhalin region suffered from the real departure of large foreign players.
The author of the report is an employee of the scientific laboratory Regional Policy and Regional Investment Processes of the Russian Economic University after Plekhanov Roman Bobrovsky noted in a conversation with Vedomosti that in most industries, divisions of departed foreign companies found Russian owners and continued production. These industries include timber processing and beverage production. However, for some areas, finding new owners has proven more difficult, for example, in the automotive industry and a number of other high-tech industries.
By Leonid Uvarchev for Kommersant (Russia).
https://www.kommersant.ru/doc/6746420?from=spot

Russian banks ask for foreigners to simplify cross-border e-commerce
Experts consider mechanisms with the participation of foreign aggregators to be risky and increase the cost of goods. The Association of Banks of Russia (ADB) asked the Central Bank to allow foreign legal entities to act as payment aggregators to organise the acceptance of payments from Russians abroad, Kommersant reports. History of the issue Expert: to work with cross-border transactions, it is necessary to create a network of consolidation points abroad The law on payments for foreign online purchases was “sifted” through the first reading Expert: the volume of cross-border online purchases fell 5 times The association explained its initiative by the fact that from the outside foreign organisations, including financial ones, “have a request to organise” the acceptance of payments using Mir cards by foreign online stores.
“In this case, foreign companies, in their bank accounts, aggregate funds received from Russian banks for transactions made using electronic means of payment, and subsequently distribute these funds among their clients, trade and service enterprises,” the Association’s letter notes. banks of Russia. Current legislation prohibits foreign companies from acting as payment aggregators, that is, providing a service that would allow businesses to accept payments in different ways.
Currently, these operations can only be performed by legal entities created in accordance with Russian legislation that are not credit institutions. The Central Bank asked the association to provide additional information, including the size of the request for opening accounts in Russian banks from foreign legal entities. A Kommersant source noted that such a request exists not only from online stores, but also from offline ones. According to him, such a mechanism already exists. For example, there is a service called SigmaPay, which operates in Turkey and is registered there; it allows businesses to accept payments from Russian cards, which are converted into the desired currency. Another application from the Turkish developer – Letim – allows you to open a virtual card of the Turkish payment system Troy and top it up from accounts in Russian banks.
However, experts are not sure of the need to change the law to allow foreign aggregators into the Russian market. According to the head of the board of the Financial Innovations association, Roman Prokhorov, in the scheme, in addition to non-obvious legitimacy within the framework of Russian and applicable foreign law, there are other significant pitfalls. "In particular, cross-border transfer of funds from a foreign company’s account in a Russian bank to the accounts of foreign trade and service enterprises, especially in the currencies of unfriendly countries, may be problematic,” the expert believes.
In addition, according to Prokhorov, the activities of the foreign company itself, which carries out regular cross-border transfers from Russia, may become the subject of attention of the compliance authorities of foreign banks. Under these conditions, the large-scale and long-term functionality of this scheme is not obvious, the expert warns. Timur Aitov, head of the competence centre Digitalisation of Financial Technologies of the Digital Economy Development Fund, generally believes that banks are long late with their innovations to include foreign payment agents as subjects of Russian legislation.
“Schemes for accepting goods from unfriendly countries have been implemented for a long time; payment brokers have been created for this purpose, whose websites resemble the names of the corresponding online stores from EU countries,” the expert explained. Such brokers increase the cost and lengthen deliveries, making it impossible to really solve the problem of buying goods from Europe.
Let us remind you that according to a joint study by GBS-BROKER and Data Insight, conducted in 2023, 60% of respondents are ready to buy goods from unfriendly countries. Almost 40% of respondents will make such purchases because their favourite brands have left Russia.
Reported by Logirus (Russia).
https://logirus.ru/news/transport/rossiyskie_banki_poprosili_za_inostrantsev-_chtoby_uprostit_transgranichnyy_ecom.html

Another Ozon sorting centre opens in Russia's Tomsk region in 2025
In 2025, a new Ozon sorting centre will be launched in the Tomsk region, the area of which will be 20 thousand square metres. metres. As TASS notes, the regional governor Vladimir Mazur and Ozon managing director Sergei Belyakov agreed on this on the sidelines of the St. Petersburg International Economic Forum (SPIEF). At the moment, two sorting centres of the company are already operating in the region, but since 2022, the number of sellers from the Tomsk region on the online platform has more than doubled.
“For further growth of commodity and financial turnover, involving more residents of the Tomsk region in small business, the region and the company signed an agreement at SPIEF-2024. It stipulates that Ozon, with the support of the Administration of the Tomsk Region, plans to launch a new sorting centre with an area of 20 thousand square metres,” says the press service of the regional Administration.
It emphasises that at the end of last year, the turnover of sellers from the Tomsk region on Ozon reached 3 billion rouble. At the same time, more than 1.5 thousand sellers from the region are represented on the site, which is 2.3 times more than in 2022.
At the moment, two Ozon sorting centres are already operating in the Tomsk region. The new complex should speed up the shipment of goods, reduce the time it takes to deliver them to customers, and thereby increase the performance of regional sellers on the site.
“The Tomsk region, located in the centre of Siberia and Russia, occupies a convenient location for the delivery and transit of goods. With the development of online commerce and the growth of consumer demand, which we see in the region, we will continue to develop the logistics industry and create new jobs for residents,” emphasised the regional governor, Vladimir Mazur.
In turn, Ozon, in order to support and develop small and medium-sized businesses in the Tomsk region, plans to involve more residents of the region in cooperation to open order pickup points.
Thus, the company currently cooperates with approximately 120 entrepreneurs from the Tomsk region agents of order pick-up points. In total, 338 distribution points are open in the region, of which 50 are located in small towns and rural areas.
“We constantly strive to provide Russian entrepreneurs with the opportunity to effectively accelerate the growth of their businesses on our platform. This is bearing fruit: in 2023, the sales turnover of our entrepreneurial sellers from the Tomsk region increased 2.5 times. The development of logistics is one of the key factors allowing businesses to optimise their processes and enter new markets,” concluded Ozon Managing Director Sergei Belyakov.
Reported by Trans (Russia).
https://trans.ru/news/v-tomskoi-oblasti-v-2025-godu-zapustyat-esche-odin-sortirovochnii-tsentr-ozon

EAEU looks back on 10-year anniversary results with future perspective
Ten years of the Eurasian Economic Union's existence have proven that the union represents a stable structure with great prospects for further development. Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia have demonstrated to all detractors their ability to find solutions to the most complex economic and, more recently, political issues. Another confirmation of this is the meeting of the Eurasian Intergovernmental Council (EIC), which took place in the Belarusian city of Nesvizh on June 3-4.
It is necessary to remind that the main function of the EAEU Intergovernmental Council is the implementation and control of the decisions made by the Supreme Eurasian Economic Council, whose members are the presidents of the Union countries. The EIC meetings are held at least twice a year, with the previous one taking place in February in Kazakhstan. A particular feature of the current event, which was the 39th in line, was the invitation of the Prime Ministers of Uzbekistan and Cuba as representatives of observer countries, as well as the Prime Minister of Azerbaijan as a guest. Unfortunately, Armenia added a touch of bitterness by sending a vice-premier to the meeting due to its current critical stance on Eurasian integration. However, this fact did not in any way overshadow the conduct of the event or its outcomes.
On the first day, even before the start of the EIC meeting, the participants spent several hours together in a narrow circle, laying flowers at the Kurgan of Glory memorial near Minsk, and also visiting the Great Stone industrial park, where the Belagro 2024 exhibition was held and a plenary session on Food Security of the Eurasian Economic Union was organised. Here, the ministers made several important statements regarding the food security of the Union, noting that today the EAEU, unlike many other international unions, is virtually self-sufficient in food products.
The meeting was organised in Nesvizh in the castle, once the residence of the Radziwill princes. The main topics of discussion for two days were deepening Eurasian economic integration, primarily in transport infrastructure, customs and tariff regulation, as well as digital and climate agendas.
During the closed-door meeting on June 3rd, the parties reviewed a number of reports for the year 2023, including those related to overcoming competition in cross-border markets, exploring the prospects for creating and developing transport infrastructure in the Eurasian space and its connection with the Chinese One Belt, One Road initiative and discussed the implementation of the plan for digitizing freight rail transportation in the EAEU. Representatives of the Union countries spoke extensively about the results of the 10-year integration and future prospects, noting the presence of several factors hindering the development of the union.
However, the most significant statements and proposals were made on the following day, when the expanded meeting of the Eurasian Intergovernmental Council took place in Nesvizh. It was here that the parties expressed their views on how the Union should develop in the future and what everyone should pay special attention to in order to ensure that the process of Eurasian integration does not stall.
In particular, Belarusian Prime Minister Roman Golovchenko outlined Minsk's position on each of the topics planned for discussion, placing special emphasis on some of them. Golovchenko stressed the importance of increasing food security in the EAEU and the quality of agricultural products, as well as the need for state support for agricultural producers. He also advocated for resolving the issue of mutual recognition of digital signatures, calling to put an end to it. Golovchenko also spoke in favour of developing exchange trading in the union and called on his colleagues to intensify efforts on international positioning of the Union and creating additional conditions for access of EAEU goods to foreign markets through agreements on the establishment of free trade zones with third countries. Overall, Belarus's position at the Eurasian Intergovernmental Council was clear and consistent: integration in the post-Soviet space should be accelerated, and the issues hindering this today should be addressed.
Similar statements were made by representatives of the other EAEU member states. For instance, Russian Prime Minister Mikhail Mishustin noted not only the successes of the Union but also the existing problems, fully agreeing with his Belarusian counterpart. He also specifically addressed customs regulation, where, in his opinion, processes should be streamlined for sellers and buyers, including through green corridors, single windows, and electronic declaration of goods. Mishustin also advocated for the rapid digitisation of all processes in the EAEU and agreed on the need to expand cooperation on the international stage. In addition, he proposed creating a unified transit customs system and common rules for marketplaces.
Kazakhstan's Prime Minister Olzhas Bektenov, in turn, emphasised the need to use artificial intelligence in the Union's work and modernise border checkpoints on Eurasian borders. He also spoke in favour of the rapid digitisation of all processes in the EAEU, primarily in the field of transport, phytosanitary and veterinary measures, technical regulation, and integration of product tracing systems. Bektenov also considered government procurement in the EAEU countries to be a relevant issue, proposing to adjust approaches to the application of the national regime for member states of the union. Speaking at the EIGC meeting, the Prime Minister of Kyrgyzstan, Akylbek Zhaparov, not only talked about the achievements of the Union and the Republic in recent years but also emphasised that all decisions within the EAEU should take into account mutual benefit and the specifics of the socio-economic development of each state in the union. In this regard, he noted that it is unacceptable for carbon and utilisation fees, which are widely discussed in the union today, to become means of unjustified discrimination and fiscal functions. In his opinion, the focus should be on stimulating domestic production and consumption through strengthening support measures for industrial cooperation and removing barriers within the Union. Zhaparov also called for the development of transport and logistics routes and proposed reducing prices for air tickets within the EAEU.
Armenian Vice Prime Minister Mger Grigoryan, in his speech, focused on somewhat different issues than the other participants of the meeting. He pointed out the positive economic indicators that the EAEU approached its first decade with, but noted that achieving the union's goals of a single market depends not so much on the volume indicators of mutual trade of EAEU members, but on its qualitative characteristics. In this regard, he emphasised the importance of promptly solving the problem of forming common energy markets and called for strengthening food security in the EAEU by removing transportation and logistics barriers.
The statements of the representatives of Azerbaijan, Cuba, and Uzbekistan present at the meeting were aimed at confirming these countries' positive perception of their cooperation with the EAEU. This, in turn, was perceived as further evidence of the serious potential of the community to extend beyond the Eurasian space. Moreover, on June 4th, it became known that the number of observers in the Union may soon increase. As reported by the head of the Board of the Eurasian Economic Commission, Bakytzhan Sagintayev, on May 27th, the commission received a note from Iran expressing Tehran's interest in obtaining observer status in the EAEU. The note may be considered as early as the end of December this year.
As the results of the meeting showed, the parties expressed their considerations on all 12 planned agenda items, which will subsequently translate into concrete decisions. In addition, the participants of the event approved the EEC's annual report on the state of competition in cross-border markets and measures taken to prevent violations of common competition rules therein, the report on monitoring the implementation of the regulatory impact assessment of EEC decisions in 2023, and also heard a report for the past year on the creation and development of transport infrastructure in the EAEU territories in the directions of East-West and North-South.
It was also announced that a unified mechanism for assessing the actual impact of adopted decisions has been launched in the Union, within which not only commission decisions but also projects of international treaties will now be evaluated. The parties also confirmed the further implementation of the activities of the Comprehensive Plan for the Development of Eurasian Transport Corridors and the plan for the digitalisation of railway freight transportation, within which the project agreements between Russia and China are already being finalized. All this, as well as the absence of any serious disagreements among the meeting participants and observers, indicates that the two days in Belarus were not spent in vain.
The next meeting of the Eurasian Intergovernmental Council, which will take place in late September early October in Yerevan, will show how the practices discussed at the current Intergovernmental Council meeting are being implemented in practice.
Reported by AsiaIs (Russia).
https://asiais.ru/society/74477.html