The Working Group’s long-term vision is free trade between the EAEU and the EU and a visa free regime that will become the backbone of an economic space from Vladivostok to Lisbon.
In order to establish a common economic space in the long-run, there are many regulatory and technical areas where concrete projects can already be implemented. They would benefit the economy and the people of both unions. We suggest starting official talks in order to reach the following mid-term goals:
Harmonize product certification and technical standards
Current disputes on technical barriers to trade and on sanitary and phytosanitary measures serve as profound barriers that hamper economic cooperation between the two unions. (Read more)
Harmonize customs regulation
There are substantial contradictions between the customs tariffs established by the EAEU and EU. Simplification of customs regulations can facilitate international trade and cross-border services. (Read more)
Align national economic jurisdictions on foreign trade
One of the aims of the Working Group is to create a common judicial area. The first step can be made by aligning jurisdictions on foreign trade. (Read more)
Mutually recognize official documents without the need for apostilles
The problem of acceptance and recognition of certificates, test reports, and inspection certificates from bodies not accredited by a union creates obstacles for businesses. The mutual recognition of official documents will have a positive impact on raising trade and cooperation .
Facilitate visa regimes
Currently there are many bureaucratic hindrances that complicate travelling between the two Unions. Facilitation of visa regimes will not only have a positive effect on economic cooperation but also bring countries with an overall population of more than 700 million people closer together. (Read more)
Aims & Arguments:
According to analyses such as those undertaken by the Munich Ifo Institute, creating a free trade agreement would be highly beneficial for both unions. The study suggests that a comprehensive agreement between the EU and EAEU would stimulate exports, boost industry, and have positive long-term macroeconomic effects such as increasing real income and GDP per capita in the EAEU and EU. (Read more)
Counterbalance to growing global protectionism
In a time when some countries are introducing high protectionist barriers, there is a genuine need to work out counter measures. The idea of the Common Economic Space between Lisbon and Vladivostok will demonstrate that a Free Trade Agreement is a win-win for all countries involved.
Political security and mutual confidence
Apart from concrete economic advantages, comprehensive cooperation between two unions will pave the way for the creation of a common humanitarian space. Such cooperation can be of vital importance for laying the groundwork for enduring security and building mutual confidence. (Read more)