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EAEU common oil, gas markets being created within agreed timeframes, says Belarusian PM

"Despite many challenges and contradictions, international trade is reviving gradually, trade inside the EAEU is rising as well," Roman Golovchenko noted

CHOLPON-ATA /Kyrgyzstan/, August 20. /TASS/. The common markets of gas, oil and petroleum products in the Eurasian Economic Union (EAEU) are being created within the agreed timeframes, Belarusian Prime Minister Roman Golovchenko said at the meeting of the Eurasian intergovernmental council on Friday.

"Taking into consideration the fact that the common markets of gas, oil and petroleum products are being created within the agreed timeframes, I would like to urge the sides to further consolidate efforts on timely finalization of draft agreements in this field," he said.

Despite many challenges and contradictions, international trade is reviving gradually, trade inside the EAEU is rising as well, PM said, adding that the ties with the rest of the world are strengthening due to cooperation inside the Union. "Foreign trade of the EAEU with third countries increased by more than 19% in five months year-on-year," he noted.

Earlier reports said that EAEU member-states had started the formation of common markets of gas, oil and petroleum products. Chairman of the Board of the Eurasian Economic Commission (EEC) Mikhail Myasnikovich said that EAEU countries would sign an international agreement on the common oil and petroleum products market by January 1, 2023. The common gas market is planned to be launched from 2025. It was reported in April that the EEC had submitted the draft agreement on the common gas market to EAEU nations for domestic approval.

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