EEU countries to coordinate monetary, macroeconomic policies

According to the official, a lot of internal and external shocks have been seen lately, this is why the coordination of the monetary policy and the budget policy is very important in the Eurasian Economic Union. Vasily Matyushevsky said that during the session of the Council an agreement in principle had been reached on holding a conference of the heads of the economy ministries and the central banks of the EEU member states soon for the sake of working out a coordinated monetary and budget policy.

According to the First Vice Prime Minister of Belarus, as many as 27 items were discussed during the session of the Council. One of the key items on the agenda was discussions about the procedure for adopting new Eurasian Economic Union members. Considerable attention was paid to developing cooperation with third countries. In particular, a draft resolution of the Supreme Eurasian Economic Council on starting negotiations with Israel on creating a free trade zone was adopted. A joint working group was created to research the advisability of signing a free trade agreement between the Eurasian Economic Union and Iran. The development of trade and economic relations between the Union and South Korea was discussed as well.

According to Vasily Matyushevsky, Kazakhstan's accession to the World Trade Organization was discussed during the Council's session, too. Members of the Council decided to create a working group on implementing Kazakhstan's obligations to the WTO into the legal base of the Eurasian Economic Union, BelTA reports.