"Eurasian Economic Union has to turn from demand to supply economy," member of the board of the Eurasian Economic Commission (EEC) Sergei Sidorsky said today at the 10th International Conference "Eurasian Economic Integration."
According to him, the countries of the union have been set targets to bring the economies to a higher level of competitiveness and raise living standards. "These are ambitious tasks, but they fully meet the needs of society to create the Eurasian Economic Union. Formation of coordinated approaches and actions in key sectors of the economy of the Union was an important step in this direction. The main sectors of cooperation development- macroeconomic, industrial, international cooperation, a single market of electricity, oil and gas- have been also determined," Sergei Sidorsky said.
"Today we produce small amount of high-tech products. We should move to supply economy. This will require investment in new production. Due to deep diversification of production, we will be able to occupy new niches in the world market. But we need additional financial tools and resources. Implementation of joint projects can be more effective at the expense of the Eurasian Development Bank. It is also necessary to work closely with the BRICS Development Bank and Asian Infrastructure Investment Bank," Sergei Sidorsky said.