Putin calls for EEU coordinated policy in key economic sectors

ASTANA, May 31 (PRIME) -- The Eurasian Economic Union (EEU) states should carry out a coordinated policy in the key economic sectors and join Russia’s import substitution program, Russian President Vladimir Putin said Tuesday at a meeting of the Supreme Eurasian Economic Council.

“We should further pay a priority attention to conducting a coordinated policy in the key sectors of the economy, as well as harmonization of legislations in the sphere of natural monopolies. The union’s states joining the import substitution program held by Russia looks prospective,” Putin said.

“We invite all our partners to a joint production of equipment and components in more than 25 sectors, including machine building, electronic and light industry, and agriculture sector,” he said.

Creation of a common hydrocarbon market in the EEU by 2025 will give an annual combined effect of U.S. $8 billion in the oil industry and a $1 billion effect in the gas sector, Putin also said.

A common electric power market should be formed in 2019, he said.

The EEU members have approved concepts of common hydrocarbon markets, First Deputy Prime Minister Igor Shuvalov said.

Putin also called for active works to adopt the new customs code for the EEU.

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