RUSSIA, March 1 - Issues related to further advancing Eurasian integration and improving the union’s legal framework were considered.

Deputy Prime Minister Alexei Overchuk took part in a meeting of the Council of the Eurasian Economic Commission held in Moscow. The meeting participants considered issues related to customs tariff regulation and improving the union’s legal acts in a number of other areas.

A decision was made to extend by one year the acceptance criterion for specific (targeted) national industrial subsidies, which can be provided if there is insufficient production of industrial goods within the EAEU. The production of industrial goods is considered insufficient when the share of goods produced in the EAEU member states is less than 50 percent of consumption volumes.

Amendments were made to five antitrust acts, aimed at improving the procedure for the commission’s work as an antimonopoly body in the cross-border market. 

The meeting participants also adopted a decision to provide a tariff discount for yarn made from jute fiber or other textile bast fibers. This preference was granted to the Republic of Armenia and the Republic of Belarus.

Another tariff discount was provided for sublimation ink used in light industry. The decision is aimed at supporting light industry enterprises of the EAEU member states in order to reduce net costs, increase production volumes of light industry products and promote the competitiveness of such products, as well as the profitability of light industry production.