Kozhoshev: common energy markets in EAEU are to be launched from January 1st, 2025
Common energy markets in the Eurasian Economic Union (EAEU) are set to be launched on January 1st, 2025 – as stated by Arzybek Kozhoshev, Member of the Board of the Eurasian Economic Commission – Minister in charge of Energy and Infrastructure, at the Eurasian Business Forum Integration in Moscow, the EEC press service reports
In particular, he spoke about the EAEU integration agenda in energy and transport, “The role and value of the formation of common markets for energy resources of the EAEU, which are planned to be launched from January 1st, 2025, are significantly increasing. The creation of a common electricity market will open up the opportunity for its participants to carry out cross-border trade in the Eurasian space, and the cost of electricity will be formed using exchange mechanisms, ensuring its transparency.”
Kozhoshev noted the importance of digitalisation of the energy and transport sectors of the economy of the EAEU member states, “The efficiency of basic processes in the energy sector is steadily increasing due to digitalisation; information technologies will be widely used in the functioning of the EAEU common energy markets.”
In the digitalisation of transport activities, railway transport is taking the lead. This industry is creating the basis for comprehensive technology for digital paperless rail transport in import and export directions.
The EEC Minister also clarified that any changes should be perceived as new opportunities for the EAEU economic development and the creation of mechanisms for joint response to the challenges of our time.
“To create a common space for development and prosperity, it is important that development strategies in the EAEU are focused not on competition, but on rational interaction, ensuring the effective use of common and national competitive advantages, energy and transport connectivity, as well as existing infrastructure,” the press release reads.
