A full-fledged EAEU stock exchange market should be operational by 2030 – as noted by Minister for Competition and Antimonopoly Regulation of the Eurasian Economic Commission (EEC) Maksim Yermolovich on the side-lines of the 25th anniversary meeting of the International Association of Exchanges (IAE), held in Minsk
“The Eurasian Economic Union is beginning to establish a shared stock market. The concept adopted sets out the stages for establishing a common stock exchange market in the Eurasian Economic Union member states. A programme has been developed to implement this concept. It has already received all the necessary approvals,” Mr. Yermolovich explained.
According to him, this concept will be discussed at the level of the EAEU heads of government in the near future.
“We hope that the programme will be approved. Before developing the legal framework for a common stock exchange market, we started drafting legislation to regulate the exchange’s operations. First and foremost, this involves regulating stock exchanges and creating legal mechanisms for effective interaction between them, including the formation of price indicators. Stock exchanges carry out this work independently,” the official added.
Mr. Yermolovich also spoke about the effect that the formation of a common EAEU stock exchange market will have, “This is undoubtedly one of the most effective market instruments, opening up opportunities for competition. The way the exchange trading market operates within the EAEU offers many advantages. It removes any obstacles or barriers that may have remained in mutual trade. It establishes clear rules of interaction between suppliers and buyers. A fair price is formed in the common market. This is an important tool for the movement of goods. It will also allow us to expand the use of our own currencies for settlements. The most important thing for us is developing competition in the common market. As is well known, competition increases efficiency, including that of national economies and individual producers. The greater the variety of products on the market, the more efficient our trade will be.”