EAEU needs to expand practice of risk management in customs regulation - Mishustin

SHYMKENT. March 27 (Interfax) - The Eurasian Economic Union (EAEU) needs to expand the practice of risk management in customs regulation, Russian Prime Minister Mikhail Mishustin said at a meeting of the Eurasian Intergovernmental Council in Shymkent, Kazakhstan on Friday.

"The risk management system we are introducing in the field of customs regulation has proven its effectiveness. It is important to expand the practice of its use to optimize the activities of customs authorities and reduce the burden on honest businesses," he said.

"Legal businesses only benefit from this, and consumers gain confidence in the quality and safety of the products they purchase," Mishustin said.

An updated regulation on Eurasian technology platforms will be approved on Friday, he said. "Its implementation will ensure closer cooperation between scientific and public organizations and business circles in work on creating innovative products," he said.

"We are also strengthening support for industrial cooperation projects. We are subsidizing interest rates on loans for implementing joint industrial initiatives of the five's businesses using the union budget funds. Currently, about 9 billion rubles are available for these purposes; this is insufficient, in my opinion. We have amended the budget regulations, which will allow projects in the agricultural sector to receive preferential support," Mishustin said.

"Their implementation will contribute to strengthening the food security of our countries and achieving technological sovereignty in this area, which directly affects people's interests," he said.

The EAEU includes Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.