Putin calls for development of digital economy within Eurasian Economic Union

Putin calls for development of digital economy within Eurasian Economic Union
The Eurasian Economic Union (EEU) has reached a significant growth rate and should continue its development, Russian President Vladimir Putin has told leaders of the five-state bloc, according to the Kremlin website.

“We assume it is necessary to accelerate implementation of the whole ‘digital agenda’ of the union, and to coordinate efforts on development of the ‘internet economy,’ creation of general digital trade rules, equal standards of exchange, and protection of information,” he said in the statement.

Putin called for the enactment of high technologies in public administration, industry, customs regulation systems and other areas, as well as “launching joint competitive, innovative and knowledge-intensive industries.”

According to the Russian president, it is important to “continue working jointly with our integration partners to remove the remaining barriers, limitations and restrictions in the way of building a common economic space. Our task is to intensify efforts towards creating single markets for goods and services, and providing conditions for free capital and workforce flow.”

Putin added that it is necessary to involve the business sector in integration initiatives, including both big, small and mid-sized enterprises.

The Russian President said that such areas as nuclear energy, renewable energy sources, ecology, medicine, space, tourism and sports provide great opportunities for boosting ties between EEU member states.

The EEU is a trade bloc established in 2015 on the basis of the Customs Union of Russia, Kazakhstan and Belarus. Armenia and Kyrgyzstan joined later. More than 40 countries and international organizations including China, Indonesia and Iran have expressed interest in a free-trade deal with the EEU.

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