July 13, 2015    

Meeting of the Advisory Committee on Financial Markets of the EAEC member states was held in Bishkek  

A meeting of the Advisory Committee on Financial Markets of member states of the Eurasian Economic Council (EAEC) was held in the Kyrgyz Republic. The meeting organized by the National Bank of the Kyrgyz Republic was attended by the representatives of central banks, ministries of finance and business communities of the Russian Federation, Republic of Belarus, Republic of Kazakhstan, Republic of Armenia, as well as members of the Eurasian Economic Commission.   

By opening the event and welcoming the meeting participants, Mr. Tolkunbek Abdygulov, the Chairman of the National Bank of the Kyrgyz Republic, expressed his gratitude to the Eurasian Economic Commission and personally to the Minister of Economy and Financial Policy Mr. Timur Suleimenov for their support to the Kyrgyz Republic in joining the country to an economic alliance.   

“I am happy to open the meeting of the Advisory Committee on the financial markets of member states of EAEC on the threshold of memorable and historical event for our country it shall become a full member of the Eurasian Economic Union. Joining the EAEC shall give stable T impulse to progressive economic development of our country and its integration with the economic organization members”, − noted T. Abdygulov.  

The Head of NBKR drew attention of participants to the trend of cooperation growth between the EAEC member states in economic and other spheres. He expressed its hope that fruitful cooperation would continue and be strengthened.  

Mr. Timur Suleimenov, the member of the Board, Minister of Economy and Financial Policy of the Eurasian Economic Commission, underlined that the event was the first event of the Eurasian Economic Union and the Eurasian Economic Commission held on the territory of the Kyrgyz Republic. “I would like to distinguish good preparation of the National Bank of the Kyrgyz Republic, which could show deep knowledge and extensive professionalism in team work despite the fact that is a new member of the Advisory Committee”- said he by expressing his hope for further constructive cooperation.   

About fourteen issues were considered during the meeting. The participants discussed the progress of work on the Agreement on requirements to execution of activities at financial markets, as well as on the draft Agreement on mutual admittance (accreditation) of brokers and dealers of the EAEC member states to the national stock exchange. They also reviewed the results of work of the working group on currency regulation and currency control on the territory of the EAEC under the Advisory Committee on Financial Markets and the prospects for cooperation between the Union’s member states on exchanging of information included in credit histories.  

REFERENCE  

The Advisory Committee on Financial Markets under the Eurasian Economic Commission was established by the Decision №199 dated October 25, 2012 of the Board of EEC. Chairman of the Committee is a member of the Board, Minister of Economy and Financial Policy of the Eurasian Economic Commission Mr. Timur Suleimenov.  

In its activity, the Committee is aimed at harmonizing the national legislations of member states of the Customs Union and the Common Economic Space in the field of financial markets in view of the best international practices.  

The priority task of the Committee is to enhance mutual trade in financial services (in banking and insurance sector, as well as at the securities market) between CU and CES member states.  

The first session of the Committee was held in April 3 in Erevan (Armenia). Next session will be held in autumn, and a meeting will be organized in December in Moscow, in the course of which the Committees work for 2015 will be summarized.