Outcomes of the Supreme Eurasian Economic Council Meeting

On May 19, 2020, a meeting of the Supreme Eurasian Council (SEAC) took place via videoconference.

The Eurasian Economic Integration Development Strategy until 2025 was generally approved. At the same time, the governments of the Union states were instructed to finalize the document for the next meeting of the Supreme Eurasian Economic Council, which is planned to be held with face-to-face participation.

The SEAC approved the main macroeconomic policy guidelines of the Eurasian Economic Union states for 2020 - 2021. The document includes a set of national and integration measures to improve the economic situation in member states and minimize the economic consequences of external shocks associated with the coronavirus pandemic and a sharp decrease in commodity prices.

The Supreme Eurasian Economic Council also approved the Annual report for 2019 on the state of competition in cross-border markets and measures taken by the Eurasian Economic Union to prevent violations of the general rules of this competition. The report pointed out that the Union is consistently working to remove barriers to the movement of goods; more and more markets are becoming common and open to entrepreneurs.