On October 1 in Yerevan, the heads of government of the Eurasian Economic Union (EAEU) countries signed the concept for the creation of a unified commodity exchange market. This decision was made following the meeting of the EAEU Intergovernmental Council.
The new concept is designed to stimulate the development of national exchanges in the member states and provide businesses with opportunities to expand their markets. It is expected that consumers will gain access to goods at more competitive prices.
The main goals of establishing a unified exchange market are to form objective market prices for exchange-traded goods, increase trade volumes within the EAEU, boost the share of transactions in national currencies, and ensure fair pricing for EAEU goods on the global market.
It is important to note that issues related to the exchange trade of energy resources will be addressed separately within the framework of creating common energy resource markets.
Participants in the unified exchange market will include trade organizers and participants, as well as infrastructure organizations responsible for storage, transportation of goods, and clearing services.
To coordinate efforts, a special advisory body, the Exchange Committee, will be established. It will ensure interaction between the regulatory authorities of the member states and the entities involved in the unified exchange market.
The next step in implementing the concept will be the development of a Program for the Development of Exchange Trading within the EAEU. This document is expected to be approved by the heads of government by the end of 2024.
