EDB expects EU–EEU integration accord signed in 2020s

MOSCOW, Aug 22 (PRIME) -- A comprehensive integration agreement between the E.U. and the Eurasian Economic Union (EEU) may be signed in the mid-2020s, according to a statement of the Center for Integration Studies of Eurasian Development Bank (EDB) and the International Institute for Applied Systems Analysis (IIASA) published Monday.

Several years ago, Russia decided to create a common economic space from Lisbon to Vladivostok, but the issue was removed from the agenda after relations between Moscow and the West worsened.

“The underlying assumption of the report is that in future, the E.U.-Russia relations will be channeled into a constructive framework with prospects for lifting mutual sanctions. The E.U.-EEU relations should be based on long-term visions and planning. According to experts of the EDB Centre for Integration Studies, an integration agreement between the two unions will become feasible by the mid-2020s,” the statement read.

To launch a dialogue between the two unions, “it is equally important to get the E.U. recognize the Eurasian Economic Union and the Eurasian Economic Commission,” but such efforts should be supported by analysis of the two unions’ economic relations and by a search of practical approaches to achieving the goal.

“To that end, steps are to be taken now to define the forward-looking agenda at the expert level and build an analytical foundation for future negotiations…We have identified 20 promising areas for the negotiation process,” the center said quoting its CEO Yevgeny Vinokurov.

There are many different options of the E.U.–EEU cooperation, but a “classical free-trade zone is not beneficial for Russia and Kazakhstan, “as both countries export mainly primary commodities,” the center’s experts said.

“Taking into account the structure of their trade flows, Russia and Kazakhstan are not interested in establishing a free-trade regime with the E.U. in its narrow sense…Concessions in the area of trade in goods should be balanced with counter concessions and progress in other areas. Special attention should be given to non-tariff barriers,” the statement read.

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