Following the results of the meeting of the Eurasian intergovernmental council held in Kazan on May 26, 2017, the Agreement on the voluntary coordination of specific subsidies by the members of the EEU was signed.
The purpose of the Agreement is to create conditions for the development of industrial production and cooperation in the EEU states, to create fair competition, as well as to increase the transparency and predictability of state support for the industrial sectors of the economy, and the formation of a transparent and predictable environment.
In accordance with the Agreement, the member state of the EEU, which wants to grant subsidies to certain enterprises or sectors of its economy, can apply to the Eurasian Economic Commission for the approval of this decision. The Commission will conduct an appropriate analysis and decide whether or not the proposed subsidies are acceptable or unacceptable. If potential risks are identified, proceedings will be conducted.
The draft federal law “On Ratification of the Agreement on the Procedure for the Voluntary Coordination of Specific Subsidies by Members of the EEU” was reviewed and approved on January 25, 2018 at a meeting of the Government of the Russian Federation and on January 30, 2018, submitted to the State Duma of the Russian Federation.
Source: Росинформбюро