Customs Union mechanism to protect light industry products

According to the source, EEC Minister for Industry and Agribusiness Sergei Sidorsky informed the EEC Board about results of an analysis of the light industry of the Customs Union and Single Economic Space member states. The analysis had been carried out by the EEC Industrial Policy Department. Recommendations had been prepared with assistance of experts and industry associations of the sides for the sake of advancing cooperation in the industry by utilizing the integration potential.

The EEC Board approved the draft recommendation of the EEC Council on building up cooperation of the Customs Union and Single Economic Space member states in light industry. The recommendation is meant to raise the investment attractiveness of the light industries of the Customs Union and Single Economic Space member states. The recommendation outlines several measures to raise the competitive ability of light industry products. Better quality of light industry products will be ensured by promoting voluntary certification systems. The development of light industry will be accelerated by bolstering the financial support mechanism. Concrete measures will be worked out to fight the illegal import, manufacturing, and trade in light industry products, including the possibility of a mechanism to protect sensitive light industry products. The list of sensitive products will be agreed by the Eurasian Economic Commission in collaboration with the Customs Union member states, said the press service, BelTA reports.