Industrial and agro-industrial policy in EEU will significantly increase amount of competitive production and stimulate import-substituting programs

ArmInfo. Member of the Eurasian Economic Commission Board - Minister in charge of industry and the agro-industrial complex Sergey Sidorskiy discussed with Vache Gabrielyan, Deputy Prime Minister of Armenia, Minister for International Economic Integration and Reforms, implementation of the agreed industrial and agro-industrial policy in Eurasian Economic Union (EEU). According to them, this policy will allow implementing new innovation projects in Eurasian space. The meeting took place on March 29 in Yerevan, the press service of the EEC informed ArmInfo.

According to the source the participants of the meeting expressed satisfaction with the approaches approved by the Commission for the implementation of agreed industrial and agro-industrial policy within the union and spoke in favor of opportunity for equal participation of the states, use of national experience in the EEU and enlargement of cooperation ties aimed at production of goods with high added value. According to them, mutually beneficial cooperation in industry and agro-industrial sector will significantly increase the amount of competitive products and will assist to implementation of import substituting programs. In this context the Minister of EEC stated that integration processes in industry and agriculture have increased, which are becoming key sectors of interstate cooperation.

"It is important that the ideas developed by the Government are always discussed with business sector, the government should have ties with all the people who put economic ideas into practices", Vache Gabrielyan mentioned in his turn

At the same time Sergey Sidorsky informed that the Memorandum of Cooperation between the Eurasian Economic Commission and the International Congress of Industrialists and Entrepreneurs (ICIE) was signed. Sydorskiy highly assessed the ICIE's potential and prepared proposals for mutually beneficial cooperation in industrial and agro-industrial sectors, "I am sure that the implementation of projects in these sectors will allow bringing key sectors of Armenian economy to a new level and will assist the state's further involvement in international and cooperation process within EEC", Sidorskiy stated.

To recall, the Eurasian Economic Commission (EEC) is the permanent regulatory body of the Eurasian Economic Union (EAEU). It started work on February 2, 2012. Currently there are five EEC countries: The Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic and the Russian Federation.

To note, the International Congress of Industrialists and Entrepreneurs (ICIE) is an international non- governmental public organization, established on February 21, 1992. At present ICIE membership comprises the national unions of industrialists and entrepreneurs from 25 European and Asian countries. More than 100 enterprises, organizations, firms and other structures from various branches of the economy and different countries are partners of the Congress. The main activities of the ICIE include consulting and legal support of its members, development and implementation of research, industrial, investment programs and projects.