Draft concept for the formation of a common exchange market of the EAEU to be discussed in Yerevan

Common stock exchange market may start functioning by 2030.

YEREVAN, September 30 - Sputnik. The draft concept of formation of the common exchange market of the EAEU will be discussed at the meeting of the Eurasian Intergovernmental Council in Yerevan. This was stated by Maxim Yermolovich, Minister for Competition and Antimonopoly Regulation of the Eurasian Economic Commission (EEC), answering Sputnik Armenia's question.

“We hope that the concept will be approved by the heads of governments and the common exchange market will start functioning by 2030,” he said.

He explained that the concept envisages four stages of formation of the common exchange market in a rather short period. And during this period an agreement on exchange programs will be developed and signed.

After the approval of the concept, it is planned to develop a program defining detailed measures for the formation of the market.

The draft program is already ready, it remains to implement it in practice.

Ermolovich emphasized that today the exchanges are not waiting for decisions, but are actively working on creating a space for interaction.

He noted that this environment of interaction is already supported by specific agreements, a five-party agreement was signed at the St. Petersburg Economic Forum, which included the countries of the Eurasian Economic Commission and observer countries. That is, the exchanges themselves are organizing themselves, starting to interact to form price indicators, which is very important for the common market.

“This is important not only for fiscal authorities, but also to monitor the state of common markets where standardized goods are traded. It is also very important for us, because it is a scheme of interaction that can be scaled, and in the future we will rely on the agreements reached between exchanges to form a common exchange space,” he said.

The process of working out standard rules of operation of the common exchange market is underway both in the commission and in the interaction of the exchanges themselves and their organizations.

Reprinted from https://am.sputniknews.ru/