The EEU summit: From Yerevan to Moscow

On the meeting of the heads of governments it is expected to approve the concept of a common market of oil and oil products of the EEU
The EEU summit: From Yerevan to Moscow
13 April 11:12 2016 Print This Article

Today, Moscow is hosting the Intergovernmental Council’s meeting of the Eurasian Economic Union (EEU), at which the heads of the governments of the Member States are going to approve the draft concept of the common markets of oil and petroleum products of the EEU, the press service of the Russian government reports.

The agenda of the Eurasian intergovernmental council’s meeting will comprise top priority tasks aimed at deepening the Eurasian economic integration. “During the meeting it is planned to consider a wide range of issues of the integration agenda concerning the functioning of the EEU and the development of the industrial sector. There will be also discussed measures for improving economic stability in the countries of the EEU,” the press-service states.

The Heads of Government intend to endorse a draft concept of forming a common market of oil and petroleum products of the EEU in accordance with the provisions of the EEU Treaty. It intends to ensure energy security of the Union and the Member States increasing overall level of competitiveness in the global commodities market.

The meeting will also address a number of questions ensuring sustainable socio-economic development of the Member States and increasing their technological capabilities. In particular, it is planned to approve provisions on the formation and functioning of the Eurasian technology platforms and concept of the Eurasian Engineering Center.

In addition, the participants will discuss issues of international cooperation. In particular, the Heads of the governments will approve the directives to conduct negotiations on the agreement on trade and economic cooperation between the Eurasian Economic Union and China. That will be an important step in bringing together the projects of the EEU and the Chinese new Silk Road initiative.

The meeting was initially scheduled to be held on April 8 in Yerevan, but the situation in the Karabakh conflict zone has deteriorated on the night of 2 April. Thus, Kazakhstan, which is a chairman of the Eurasian Economic Union starting from 2016, proposed to hold the meeting in Moscow.

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