Bishkek, Nov. 27, 2018. /Kabar/. The share of settlements in national currencies between the countries of the Eurasian Economic Union - Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia - reached 70% in the first half of 2018, First Deputy Head of the Government of Russia Sergei Prikhodko told journalists, TASS reported.
“Further growth of this indicator will be due to such factors as ensuring macroeconomic and financial stability, creating a common financial market and harmonizing legislative regulation in the financial sphere,” Prikhodko said just bvefore the meeting of the EAEU Intergovernmental Council in Minsk.
He said that the largest share of settlements in national currencies falls on trade with Russia and is carried out in rubles.
In general, according to Prikhodko, the possibility of increasing settlements in national currencies depends on the development of trade relations between the EAEU member states.
Negotiations on expanding the membership of the EAEU are currently not underway, Prikhodko added.
“At the moment, we are not talking about the expansion of the Union,” Prikhodko said. He recalled that the priorities of the Russian presidency imply that the main task today is to deepen and strengthen integration. First of all, we are talking about the elimination of the remaining barriers and restrictions in the common market.
“Expansion of the EurAsEC has never been an end in itself for the states participating in the integration association,” the agency’s source stressed. “Its objectives are quite pragmatic: we focus on the practical benefits that our countries receive from deepening economic integration.”