On June 26 in Minsk, Bakytzhan Sagintayev, chairman of the Board of the Eurasian Economic Commission, took part in the EEF panel session titled, "Dialogue of Interstate Associations: Convergence of Economic Potentials and Deepening Trade and Economic Cooperation".
"Dialogue between blocs is a major global economic trend", Sagintayev said. "The heads of all five member countries of the Eurasian Economic Union consistently emphasize the importance of integrating the Union into the global trade and economic system."
The chair of the EEC Board noted that the Commission, together with the member states, has established the infrastructure for systematic international dialogue.
The EAEU has signed twelve memorandums of cooperation with regional blocs. Dialogue with these provides a foundation for sharing best practices and accelerating trade and economic cooperation.
The Commission and the Union have developed an extensive network of contacts around the world, including Eurasia, Latin America, and Africa. Key partners with whom the EAEU is successfully advancing dialogue include the CIS, SCO, ASEAN, MERCOSUR, BRICS, CICA, the Andean Community, the South American Common Market, the African Union, and the Pacific Alliance.
Trade agreements are the main tool for expanding the partnership geography. The EAEU has signed these agreements with Vietnam, Iran, Serbia, and China. Negotiations with Indonesia are in the final stage. Two more trade agreements are expected to be signed with the UAE and Mongolia on the sidelines of a June 27 meeting of the Supreme Eurasian Economic Council.
"Today, the EAEU is interested not only in adopting the positive experience of integration efforts from other organizations", the EEC Board chairman said. "As a well-established association, we are ready to offer our partners our own best practices. The convergence of our economic potentials can multiply the benefits of mutually advantageous cooperation."
