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DECISION OF THE SUPREME EURASIAN ECONOMIC COUNCIL

of October 16, 2015 №28

About the Main directions of economic development of the Eurasian Economic Union

The supreme Euroasian economic council decided:

1. Approve the enclosed Main directions of economic development of the Eurasian Economic Union (further - the Main directions). 

2. Recommend to the governments, national (central) banks of state members of the Eurasian Economic Union (further - state members) to consider the Main directions when carrying out macroeconomic policy.

 3. The Euroasian economic commission together with state members to prepare offers on determination of the spheres of economy having integration potential, provided by the Agreement on the Eurasian Economic Union of May 29, 2014 and also the measures directed to its use.

 4. The Eurasian economic commission to carry out monitoring of indicators and the level of development of economies of state members, exponents of their integration taking into account the Main directions.

Members of the Supreme Eurasian economic council:

from the Republic of Armenia

 

from the Republic of Kazakhstan

from the Republic of Belarus

from the Kyrgyz Republic

from the Russian Federation

Approved by the Decision of the Supreme Eurasian economic council of October 16, 2015 №28

Main directions of economic development of the Eurasian Economic Union

I. General provisions

This document has advisory nature and determines the perspective directions of social and economic development at which realization state members of the Eurasian Economic Union aim (further respectively - state members, the Union) due to use of integration capacity of the Union and competitive advantages of state members for the purpose of obtaining by each state member of additional economic effect.

This document is interconnected with the industry (sectoral) program documents provided by the Agreement on the Eurasian Economic Union of May 29, 2014 (further - the Agreement on the Union).

This document provides realization of the main directions of economic development of the Union (further - the main directions) in the period till 2030 taking into account possibility of change of structure of the Union and, respectively, potential integration effects of cooperation of state members.

II. Determinations

For the purposes of this document the used concepts mean the following:

"additional economic effect" - improvement and (or) stability of the measure values characterizing the state of the economy of state member, its development and stability reached for the realization account of integration measures and actions;

"integration actions" - the actions directed to realization of integration measures;

"integration measures" - joint (coordinated, approved) activities of the interested subjects;

"integration capacity of the Union" set of opportunities which result from integration processes and which use promotes obtaining by state members of additional economic effects;

"competitive advantages of state member" - set of conditions and factors, this or future which provide the advancing development of economy of state member and which use is possible for the benefit of state members and the Union in general;

"competitive advantages of the Union" set of competitive advantages of state members which can be used for goal achievement of economic development of the Union;

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