Improvement of positions in international rankings is the result of structural changes in the economies of the EAEU countries

Positions of the Member States of the Eurasian Economic Union (EAEU) in notable international rankings was discussed by representatives of authorized bodies of the Member States at the meeting held in the Eurasian Economic Commission (EEC). The meeting was organized at the initiative of the Belarusian side.
"Since 2015, the Commission has been evaluating the level and dynamics of the economic development of the EAEU Member States mainly on the basis of the most famous international ratings. The analysis reveals that on a number of DOING BUSINESS indicators, the Global Competitiveness Index and the Global Innovation Index, the Union States have improved their positions,” said the Director of the Macroeconomic Policy Department of the Eurasian Economic Commission Toty Kaliaskarova.
In particular, Armenia took the ninth place of the 190 DOING BUSINESS-2017 rated countries by "Business registration" indicator, while Belarus and Kyrgyzstan took the third and the fifth places, respectively, by "Property registration" indicator.  Kazakhstan rose up to 20th place by “Efficiency of the labor market” indicator of the Global Competitiveness Index (out of total 138 estimated countries). In terms of the “Infrastructure” of the Global Innovation Index, Kyrgyzstan gained 14 positions.
As noted by the EEC representatives, positions obtained by the Union countries reflect the efforts of national governments to improve the business climate and the implementation of structural changes in the economy. Each country has its own “success story”, programs that can be implemented in other EAEU States.
In particular, promotion of Armenia by “Obtaining credit” in the “Doing Business” ranking up by 22 positions has become possible thanks to changes in the bankruptcy law aimed at carrying out reforms in the economy, business institute development, and pledge institute reforms. This was reported by the representative of the Central Bank of the Republic of Armenia. Belarus and Kyrgyzstan demonstrated their particular interest in using this experience.
Changing of Kazakhstan’s positions in the Global Competitiveness Index have been possible thanks to the fact that the country has established a Council on competitiveness and developed a set of measures, including more than 300 specific measures. The representative of the Ministry of National Economy of the Republic of Kazakhstan noted that this direction is a priority for the Government.
The representative of the Federal Service for Intellectual Property of the Russian Federation drew attention to the need to improve the methodology of rating calculations. For example, today the Global Innovation Index does not take into account the overall results achieved by the Member States in the area of intellectual property. In particular, the establishment of the Eurasian Patent Convention and the Eurasian Patent Office.
The meeting showed considerable interest of the EAEU countries in sharing their experience. The participants endorsed the discussion format proposed by the Commission and expressed their support for the organization of such meetings on a regular basis.
A round table is planned for May 2017, with the participation of the World Bank, the World Economic Forum, national rating agencies, as well as independent experts and representatives of the EAEU states authorities.
For reference
The Commission systematically generates an updated database that includes indicators of the Member States and the EAEU in the whole in 17 international ratings. At the end of each year, the EEC prepares a report on “Economic Development of the EAEU Member States: International Ratings.”

Leave a Reply

Your email address will not be published. Required fields are marked *