Formation of common EAEU energy markets to be discussed at Eurasian Week

Experts will discuss formation of common markets of energy resources of the Eurasian Economic Union (EAEU) during the 4th Eurasian Week International Exhibition Forum. Organizers of the event reported.
The forum will include a round table discussion "Common Markets of Energy Resources of the Eurasian Economic Union (EAEU): Factor of Increasing Energy Security and New Business Opportunities." Participants will discuss creation of common markets for energy resources (electricity, gas, oil and petroleum products), the state and prospects of the EAEU fuel and energy complexes in the field of energy security and energy efficiency, as well as the importance of business in creation of common markets of energy resources of the union.
Formation of a common electricity market of EAEU is one of the important factors for the development of integration processes in the Eurasian economic space.
Board Member (Minister) for Energy and Infrastructure of the Eurasian Economic Commission Emil Kaikiev
"I want to note that creation of the market is primarily aimed at transition to market, including stock market, pricing mechanisms, as well as ensuring fair competition," said Emil Kaikiev.
In May 2019, within the framework of the meeting of the Supreme Eurasian Economic Council, the heads of state signed an international agreement on the formation of a common electricity market of EAEU. The document determined the legal basis for the formation, operation and development of the market, the bodies and organizations that manage and ensure functioning of the common electricity market of the Union, its participants and infrastructure organizations, ways to trade in electricity.
Related news Kyrgyzstan to host Eurasian Week Business Forum "An important event of energy integration was also the accession of Armenia and Kyrgyzstan to the methodology of interstate transmission of electrical energy between the EAEU countries. This allowed to use common principles and rules for access to the services of natural monopolies in the electric power industry, including the fundamentals of pricing and tariff policy," the forum organizers say.
They note that the creation of markets for energy resources of EAEU will allow businesses to freely choose energy suppliers that will have a positive impact on the cost of production. In addition, the formation of common energy markets will improve the energy security of the EAEU states and will contribute to the formation of transparent prices for electricity and hydrocarbons for the sustainable development of the economies of the Eurasian Five countries.
Eurasian Week International Exhibition Forum is held for the fourth year in a row. Its goal is to present the opportunities and potential of the EAEU countries to the world for development of a methodology and joint formation of the economy. The venue of the event contributes to the development of a network of direct B2B contacts and to attracting enterprises of third countries as potential consumers and investors to create competitive and export-oriented products.
24.kg is the information partner of the event.