Trade Integration in Services in the Eurasian Economic Union: Between Myth and Reality
Abstract
Within the framework of the Eurasian Economic Union (EAEU), a gradual formation of the single market of services is envisaged, both separately for different
sectors and subsectors, and for horizontal level among the Member States. The order and formation of the services market and its sectoral coverage are to be determined by the liberalization plans approved by the Supreme Eurasian Economic Council. The countries prepared a set of Rules of trade in services, institutions, and activities that would allow to shape the licensing and regulatory system, make it more transparent, and reduce administrative and financial burden for authorities and businesses within the countries of the Union. It is expected that practical application of the Rules would cause reduction of the costs of services and goods for the population of the EAEU countries. Over the past few years, the countries of the EAEU have made an unprecedented and ambitious way forward in the formation of the single market for services in terms of a normative basis. At the same time, much remains to be done with regard to practical implementation of the proposed measures which is impossible without proper functioning of institutions, reduction of mutual technical and administrative barriers, and a favorable
investment climate in the economies of the participating countries.
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