In 2021, our company took part in the Eurasian Development Bank (EDB) project “EDB Integration Business Barometer”. This international project covered representatives of large and medium-sized businesses from Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan, carrying out foreign economic activity on the territory of the EAEU and the CIS region. The purpose of the study, conducted in August-September 2021, was to solve the problem of monitoring the degree of awareness of companies about Eurasian integration, the wishes of business on the priorities of integration and cooperation in the EDB region of operations, as well as their opinions and assessments regarding barriers and support measures in the field of foreign economic activities.
Among the results of the EDB Integration Business Barometer study, one can note the positive attitude of Belarusian companies towards Eurasian integration. In Belarus, the share of companies that noted that Eurasian integration makes it easier to do business on the territory of the EAEU member states was 78%. The share is higher only in Kazakhstan, where 79% of companies expressed a positive attitude. Moreover, in Belarus and Kazakhstan, no companies have been identified that believe that the work of the EAEU complicates doing business.
However, in all 6 participating countries, there were a number of barriers that companies face when conducting foreign economic activity in the EAEU and the CIS region. In addition to technical barriers (certification, labeling, etc.), as well as the nuances of customs clearance and sanitary standards, respondents most often noted:
1) high competition
2) lack of information about foreign markets and potential partners
3) restrictions on the sale of goods
4) financial measures (currency regulation, regulation of payment terms, obtaining and using credit to finance imports)
The least common barriers were problems with export subsidies, protection of intellectual property rights, restrictions on public procurement, and price controls on competition.
Answering the question about improving the efficiency of the EAEU, most companies pointed to the need to take into account the opinion of the private sector, the development of common standards and the feasibility of creating rapid response services in the field of foreign economic activity.
Most of the surveyed companies and organizations agreed that the most effective measure to support EAEU businesses would be to reduce the tax burden. Also, such measures as a delay in the payment of indirect taxes up to 50 days and the availability for citizens of each country of the EAEU equal with residents of other Member States' employment rights.
The full version of the report can be found on the EDB website
