Putin: Troika should set timeline for eliminating exceptions, restrictions in CU, SES

"In order to maximize the effect of integration all economic sectors should be involved and the integration should be as deep as possible. Only in this case a single economic system begins to work organically, independently and with high efficiency," said the Russian head of state. He noted that it is important to continue harmonizing laws regulating the economies of the Troika states of the economies of the Troika. For this summit the Troika experts coordinated the draft laws on competition and stimulation of competition. According to the Russian President, this is another step towards strengthening integration between the states. Vladimir Putin noted that the Eurasian Economic Commission is assuming the primary role in monitoring the compliance with the standards in the common cross-border market. The companies can invest and develop their business under uniform antimonopoly rules.

The Russian President stated that since the last summit the Troika member states have made considerable progress in promoting integration. In particular, the governments of the three states in close cooperation with the Eurasian Economic Commission have developed the institutional part of the draft Eurasian Economic Union Treaty which determines its international and legal status, goals and mechanisms of work. The document also provides for basic principles of the Eurasian integration project. The main principle is that the activity of the organization should fully meet the national interests of the member states. "We are setting up the Eurasian Economic Union to strengthen the national economies, secure their harmonious development and rapprochement, which in the end is aimed at the enhancement of the wellbeing and living standards of people," Vladimir Putin said.

Vladimir Putin noted that for Russia the Customs Union is the third largest market after the EU and China. According to his words, over the recent years the volume of Russia's merchandise trade with Belarus and Kazakhstan has increased by $15 billion (almost by a quarter) and reached over $58 billion. The share of Belarus and Kazakhstan in the merchandise trade in the Troika has increased. Besides, the amount of raw materials in the mutual export/import operations has decreased from 40% to 33%. Vladimir Putin said that the figures clearly demonstrate that the countries would only benefit from the strengthening of cooperation. "The Eurasian Economic Union opens up new opportunities for its member states. Russia is eager to cooperate closely with its partners in the Customs Union and the Eurasian Economic Union, and with any other states willing to join the integration process," Vladimir Putin said.