Putin: EAEU approved the concept of a common financial market

ArmInfo.Russian President Vladimir Putin said that the countries of the Eurasian Economic Union (Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia) have approved the concept of a single financial market, RIA Novosti reported.

In addition, the EAEU member states are preparing a concept for the  development of a unified energy market, he added at a meeting on  integration processes in the association. "The member states of the  Union have approved the concept of forming a common financial market  for the EurAsEC, preparations are underway to create a common  electricity market. We have launched a program to form common markets  for gas, oil and oil products. This is a difficult issue," Vladimir  Putin said.

As an example of the successful finding of a compromise between the  member states of the Union, he cited the creation of a single market  for the production and circulation of drugs and medical devices.

"Since January 1 of this year, registration of all medicines in the  EurAsEC countries has been carried out according to uniform rules and  procedures. This is extremely important now, we all understand this  perfectly well when our countries are faced with a common challenge,  the coronavirus epidemic. And we need to effectively coordinate  efforts to protect lives and health of our citizens, "Putin said.

He also noted that the single service market is also consistently  developing - it already includes 53 sectors, and this year it will  cover five more areas.