The fundamental principles of the world economic system in question

The world economy is going through a difficult period: trade, industrial and logistics links, which are just beginning to recover from the pandemic, are suffering new shocks. Armenian Prime Minister Nikol Pashinyan said in his welcoming address at a meeting of the Eurasian Intergovernmental Council in Yerevan on Thursday.

“The fundamentals of the global economic system are being challenged. In today’s unstable economic realities, there is no doubt about the necessity and relevance of periodic dialogue at the highest level, for more coherent and coordinated interaction․ Understanding mutual support of many and the willingness to compromise and cooperate can be the key to solving many problems. In this context, I would like to highlight the daily work, in the literal sense of the word, within the EAEU to develop a coordinated response to the problems that arise at all levels,” Pashinyan said.

The meeting of the Eurasian Intergovernmental Council began Thursday in Yerevan.

Russian Prime Minister Mikhail Mishustin, Belarusian Prime Minister Roman Golovchenko, Kazakh Prime Minister Alikhan Smailov, Kyrgyz Cabinet Chairman Akylbek Japarov and Eurasian Economic Commission Board Chairman Mikhail Myasnikovich arrived in Armenia to participate in the session.

Restricted and extended sessions will discuss agenda issues related to the development of integration processes in the Eurasian space.

Particular attention will be paid to the digital agenda, in particular the prospects for the development and improvement of the Union’s information system, the development of a unified analytical system for the management of electronic trade in goods.

The process of preparing agreements on the formation of a common gas market as well as markets for oil and oil products will be discussed. Accordingly, it is planned to sign decisions on the further development of Eurasian economic integration.