Tigran Sargsyan: In early 2017 an essential economic growth is fixed in all the five countries of EEU

ArmInfo. The condition of EEU  countries economies, main aspects of EEC activities and the options  of business entities participation in it were discussed at the  meeting  of Business Russia General and Regional Board members with  EEC Board Chairman Tigran Sargsyan on May 25. 

As Tigran Sargsyan  mentioned, in early 2017 in EEU the economic  growth has been fixed in respect for all the five countries first for  all the time. The foreign trade turnover of all five countries for  January-March 2017 grew for 29% versus that of the similar period of  last year. The mutual trade growth formed 31, 1%.  "The number of  companies funded by EEU partner countries also  grows," the EEC Board  Chairman stated.  " The real sector of economy develops, cargo and  passenger flows also grow. The forecast of the Commission by the year  of 2019 is sustainable positive. "

Tigran Sargsyan informed the entrepreneurs about the formats of  cooperation of the Commission with business-society. A Business  Council is working  under the EEU, comprising business associations  from all the member countries. Its main task is to develop a  consolidated position due to EEU decisions and to propose  initiatives. Another format of cooperation of EEU and business is the  consulting commissions and working teams where the draft projects are  being developed.  

The Commission provides public discussions of  draft decisions, which  could be participated by any representative of business community of  Union. In 2016, the 80% of notes and remarks received were  considered.  

The Board of the Commission operates as a cabinet government, with 14  members of the Commission ("commissioners"). There are three members  per member state (and until 1 January 2016: 2 from Kyrgyzstan). The  Chairman of the commission (currently Tigran Sargsyan) is nominated  by the heads of state of the member states of the EEU. The Commission  includes an administrative body composed of 23 departments, 18  consultative committees, and 2000 civil servants. The usual working  language of the Commission is Russian.

The EEC was constituted by the Treaty on the Eurasian Economic  Commission, signed on November 18, 2011 and which entered into force  on 1 January 2012. It began it operations on February 2, 2012. On 1  January 2015 it became the principle organ of the Eurasian Economic  Union, upon entry into force of the Treaty on the European Economic  Union.