EAEU develops progressively, faces new issues: Russia’s president

Eurasian Economic Union is developing progressively and the integration processes are having favorable impact on the economies of the member states, Russia’s president Vladimir Putin stated at the meeting of the Supreme Eurasian Economic Council held in Yerevan today.

“At the same time, I must say that our union faces new, serious issues, we think it is necessary to pay special attention to the elimination of impediments in the sectors of trade of products and services,” he said.

Russia’s president said that the Union’s power legislation is being improved.

Putin voiced hope that in near future the arrangements over united power market will enter into force.

“The common power area must be formed with the market of gas, oil and oil products in 2025. First of all it is necessary to complete the unification of the legislations of the member states in gas supply and transportation,” Putin said.

Russian president also stressed the importance of ensuring transparency of product circulation in the Union’s market, the reinforcement of cooperation with the third countries.

“The geography of our contacts gradually expands, currently the Union is conducting negotiations with 13 countries, over 120 international organizations and structures, very soon we will start negotiations over free trade with India,” Russia’s president said.