EEU to encourage development of home market in each of its member states

GMT 03:27 2014 Sunday ,12 October

Arab Today, arab today EEU to encourage development of home market in each of its member states

Eurasian Economic Union
Moscow - Itar-Tass

Russia’s Federation Council upper parliament house hopes the Eurasian Economic Union due to come into existence from January 1, 2015 will encourage the development of home markets of its member states.
“First of all, the Eurasian Economic Union is geared towards the development of the domestic market of each of its members and we consider this process as a big victory of the policy of Russia and its president,” Sergei Shatirov, a deputy chairman of the Federation Council committee for economic policy, told TASS on Friday.
He expressed confidence that as the so-called “old economies,” first of all those of European countries, were slowing down, alternative markets will help satisfy domestic needs, including in what concerns import substitution in each of these countries. “A common market will promote economic development, creating new jobs and will inevitably be reflected in the gross domestic product,” he said.
Vladimir Dzhabarov, the first deputy chairman of the Federation Council international committee, said he hoped more countries would join the Eurasian Economic Union. “Now, /the integration association includes/ four countries, with Armenia joining Russia, Belarus and Kazakhstan,” he said, adding he hoped the Armenian parliament would soon ratify the agreement on joining the Eurasian Economic Union Treaty.
“It is pleasing that Kyrgyzstan will take a decision on joining /the Eurasian Economic Union/ within a year,” he added.
According to Dzhabarov, other former Soviet republics should not be kept off integration processes. He noted that Tajikistan had been among the founders of the Eurasian Economic Community /EurAsEC/, which is counting out of existence. “I don’t think we should ignore this republic,” he said, adding he hoped a roadmap for Tajikistan’s joining the Eurasian Economic Union would be developed too.
“Apart from that, we have good relations with Azerbaijan and we hope for constructive cooperation with it in this area,” he said. Baku, he noted, had suspended its membership in the Eastern Partnership and had refused to sign an association agreement with the European Union.
“If in some time, Azerbaijan decides to join the Eurasian Economic Union, despite the protracted conflict in Nagorno-Karabakh, it will be a path to resolve this conflict when the two countries /Azerbaijan and Armenia/ are together in a common economic union,” Dzhabarov said.


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