The Board of the Eurasian Economic Commission Chairman, Mikhail Myasnikovich, has recently called for increased investment cooperation among the Eurasian Economic Union (EAEU) member countries. Myasnikovich emphasized that mutual investments contribute significantly to the GDP of EAEU countries and suggested that investments in fixed assets should be doubled to foster economic growth.
In addition to investment cooperation, Myasnikovich also stressed the importance of accelerating industrial production and the development of industrial clusters within the EAEU. This would help promote the creation of large Eurasian companies that could compete globally and contribute to the region’s overall economic development.
Furthermore, Myasnikovich highlighted the need to ensure food security in EAEU countries. This would require closer cooperation among member states to develop and implement strategies to address food shortages and reduce import dependency.
Myasnikovich also stressed the importance of constructive interaction between the EAEU and other international organizations, such as the Commonwealth of Independent States (CIS), Shanghai Cooperation Organization (SCO), and BRICS. Such interactions could allow member countries to leverage each other’s strengths and capabilities to promote regional economic integration and growth.
In conclusion, Myasnikovich’s call for increased investment cooperation and the creation of large Eurasian companies highlights the potential benefits of closer economic integration among EAEU member states. By working together to accelerate industrial production, develop industrial clusters, and ensure food security, the EAEU can enhance its competitiveness and contribute to the region’s overall economic growth. Additionally, constructive interaction with other international organizations could provide further collaboration and growth opportunities.
To achieve these goals, Myasnikovich also emphasized the need for member states to address any barriers to trade and investment, including regulatory and administrative obstacles. This would require coordinated efforts and effective communication among member states to streamline trade procedures and create a more favorable business environment.
Moreover, Myasnikovich suggested the establishment of a typical digital market within the EAEU. This would facilitate cross-border e-commerce and create new business opportunities in the region. By leveraging digital technologies, the EAEU could further enhance its competitiveness and attract more investment within and outside the area.
Myasnikovich’s proposals align with the EAEU’s goal of promoting regional economic integration and increasing global competitiveness. The EAEU has made significant progress in establishing a common market for goods and services, adopting a standard customs code, and implementing a single energy market.
However, much work must be done to achieve the EAEU’s full potential. By continuing to prioritize investment cooperation, industrial development, and food security, as well as by addressing regulatory barriers and establishing a common digital market, the EAEU can further strengthen its position as a leading economic region.
In conclusion, Myasnikovich’s call for increased investment cooperation and the creation of large Eurasian companies highlights the importance of regional economic integration for the EAEU. By working together and addressing common challenges, member states can enhance their competitiveness and create new opportunities for growth and development.