Belarus PM calls for close oversight over EEU common gas, oil market concept development

It is important to closely oversee the development of the concepts for the common markets of natural gas, oil, and oil products in the Eurasian Economic Union. Prime Minister of Belarus Andrei Kobyakov made the statement during the session of the Eurasian Intergovernmental Council in Grodno on 8 September, BelTA has learned.

Andrei Kobyakov said: “I suggest paying close attention to progress in shaping the industrial policy, in particular, the drafting of the main guidelines for industrial cooperation within the framework of the Eurasian Economic Union. I believe it is important to oversee progress in preparing the concepts for the common markets of gas, oil, and oil products as well as the readiness to launch the common markets of medications and medical products as from 1 January 2016.”

The Belarusian head of government remarked that interaction between key economic government agencies — the ministries of economy and finance as well as the central banks — remains an important matter. “The work to establish effective cooperation between these agencies proceeds more slowly than we would like. Either they don’t have constructive ideas concerning the joint work or they may not be ready to be more transparent for their partners for now. I see some conservatism and reserved demeanor in their work. If things stay as they are now, how are we going to build the common economic space and talk about a coordinated macroeconomic policy?” wondered the Prime Minister of Belarus.

Andrei Kobyakov also mentioned that the Belarusian side intends to present a pilot project for the digital labelling of certain kinds of goods. “I think the project’s implementation will be the starting point for its wider adoption and will in practice demonstrate our readiness to create a truly common market of the Eurasian Economic Union,” he noted.

Apart from that, the Prime Minister presented the Belarusian brochure “40 questions about the Eurasian Economic Union”. “We have polled over 50 foreign diplomatic missions in a bid to try and systematize what foreign private companies would like to know about the Eurasian Economic Union. The effort has resulted in this useful brochure. The initiative may be continued by consequent presiding countries,” said Andrei Kobyakov.