MOSCOW (Realist English). The economy of the Eurasian Economic Union is awaiting a number of structural changes, some of which look promising, according to Mikhail Myasnikovich, Chairman of the Collegeum of the Eurasian Economic Commission.
For example, the development of a single Eurasian import substitution program. A long-term regime for creating conditions for an investment boom is possible if a separate agreement is concluded within the framework of the EAEU. It can be signed by three or more interested member States of the Union and remain open for accession by other EAEU member states.
The Eurasian Commission has formed a map of the industrialization of the EAEU. These are 185 projects with an estimated cost of more than 300 billion US dollars in more than 21 industries and 550 technological areas. It contains the projects of all five Member States.
Development of an Interstate program for the development of the semiconductor sector in the EAEU. It will create optimal conditions for the production of domestic chips (element base), two enterprises of JSC “Micron” and JSC “Integral” remain the backbone for the Eurasian microelectronics.
Speeding up the creation of the EAEU’s own financial system based on national currencies. Among the key mechanisms for the formation of the common financial system of the EAEU are:
mutual settlements in national currencies (reached 80%);
formation of contract prices for energy carriers in national currencies;
creation of a common commodity exchange market, etc.
It is worth admitting that we are not ready to switch to a single currency within the Union today, but the application of new approaches to the implementation of calculations is overdue. These can be various solutions, ranging from the introduction of a unit of account following the example of the ECU and ending with the introduction of a common crypto or digital currency on the territory of the Union.