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PM Medvedev proposes developing currency union in EAEU

May 29, 2015, 14:31 UTC+3 KAZAKHSTAN
Medvedev pointed out the need to coordinate measures of supporting the real economy and the financial sector, implemented by the EAEU countries
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Russian Prime Minister Dmitry Medvedev

Russian Prime Minister Dmitry Medvedev

© Alexander Astafyev/Russian Government Press Service/TASS

KAZAKHSTAN, May 29. /TASS/. Russian PM Dmitry Medvedev proposed developing a currency union in the EAEU (Eurasian Economic Union), Medvedev said Friday.

"We could review the possibility and the terms of creating a currency union. We are ready to work on this idea with our colleagues," Medvedev said.

He pointed out the need to coordinate measures of supporting the real economy and the financial sector, implemented by the EAEU countries. These measures must "not be adopted in isolation but in a coordinated manner," the Prime Minister said.

Medvedev said that the integration processes are currently developing amidst difficult economic conditions related to prices dynamics, currency fluctuations and other factors. "It affected the state of bilateral trade and investment cooperation, and we are obliged to solve these problems within the existing integration mechanisms," Medvedev said.

He said that Russia is ready to intensify the participation in the EAEU activities. In particular he proposed to hold Prime Minister meetings not once, but twice a year (as it is established by regulations) and even more often, if necessary. According to Medvedev, several dozen documents will be adopted before the end of 2015 at the level of the EAEU.

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