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The Eurasian Economic Union (EAEU) has reached fundamental agreements on the draft Agreement on Electronic Commerce of Goods in the EAEU, which establishes uniform requirements for the operation of EAEU trading platforms. The EAEU includes Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia and occupies a geographical area between Eastern Europe and Western China. Its population is 183 million people, and its GDP is $2.4 trillion.

The agreement provides that tangible and digital goods, as well as services related to e-commerce, will move freely in the countries of the Eurasian "five", and member states will not introduce tariff, non-tariff or other restrictions for sellers of goods and trading platforms that are not provided for in the Union treaty. At the same time, trading platforms should not create discriminatory conditions for sellers and buyers from other EAEU countries. "The main objective of the agreement is to reduce the risks of barriers to the free movement of e-commerce goods due to the lack of a comprehensive Union law in this area and the active development of its own regulatory framework in the member states," said Alexey Slepnev, Minister for Trade of the Eurasian Economic Commission.

It is expected that within the framework of the agreement, the EAEU countries will approve a set of supranational rules. Public offers, product cards, order information, and returns of goods and funds will be processed according to general rules. It is assumed that sellers and trading platforms will be able to standardize their business processes on a single platform.

Consumer rights in e-commerce will be protected in accordance with the legislation of the country where the consumer is located, and a single standard for the return period of goods will be introduced for the EAEU - within 14 days.

The agreement will also include measures to limit spam mailings, mandatory protection of personal data, and the provision of tools for pre-trial dispute resolution based on associations of professional market participants and consumer protection societies.

According to Slepnev, the volume of the e-commerce market in the EAEU is about $82 billion, and by 2030 this figure will grow by 30% and amount to about $110 billion: “Currently, the total share (of e-commerce) in the EAEU retail is about 13%, but there is steady growth. And by 2030, we predict growth to 30%. We are clearly moving towards this forecast.”

There are 78 million regular retail Internet users in the EAEU. Synchronization of e-commerce regulation between the EAEU countries will likely give a significant boost to the development of multilateral trade within the EAEU.

Source: portal “Russia's Pivot to Asia”

On November 25, 2024, a meeting was held between the Chairman of the Board of the REAB Consortium Igor Kalinin and the President and Chairman of the Board of the Ural Chamber of Commerce and Industry Andrey Besedin. At the meeting, a partnership agreement was signed between the parties.

During a long constructive conversation, A. Besedin and I. Kalinin exchanged their vision of the prospects and directions of business development in the Ural region, its need to enter the international market, and also discussed practical ways of interaction between the consortium and the chamber to ensure this development. Specific projects from which this partnership could begin were also discussed.

Among the most popular options:

• assistance of the REAB consortium in the purchase of foreign companies for Russian businessmen as one of the most effective ways to enter the local market abroad;
• assistance of the REAB consortium in the sale of large businesses where the owners are retiring on an entrepreneurial pension, and the chamber's experts in an objective assessment of such a business;
• attracting foreign investors to business assets for sale in the Ural region and Russia as a whole.

For reference: The Ural CCI is one of the oldest and largest chambers of commerce and industry in Russia. In 2024, the UCCI turns 65 years old. The Chamber retains its status as a recognized leader in the Russian CCI system. It is among the TOP-3 chambers of commerce and industry of Russia, both in terms of the number of implemented public initiatives and the volume of services for business. More than 900 organizations of Yekaterinburg and the Sverdlovsk region are members of the Ural CCI. Hundreds business events are held in the Chamber and with the participation of the Chamber annually. In the field of international economic cooperation, the Chamber conducts and takes part in more than 20 business missions per year. Hundreds of foreign trade contracts are concluded and supported with the participation of the Ural CCI.

The Ural region is one of the most economically developed territories of Russia, where the wealth of natural resources is combined with developed industry, and the capital of the region, Yekaterinburg, is the third most developed metropolis in the country.

The BRICS countries have agreed to include 13 countries in the category of “Partner States” in the association. However, the entry of these countries has not yet been made official, as the newly established protocol in the procedure requires the country holding the current Chairmanship of the organisation (in this case, Russia, from 2025, Brazil) to hold consultations with the partner countries concerned. 

The new bloc of countries invited to join the BRICS as “Partner States” include Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Nigeria, Thailand, Turkiye, Uganda, Uzbekistan, and Vietnam. 

According to diplomatic sources from the Brazilian delegation in Kazan, Venezuela was left off the list due to a veto by Brazil. 

Brazilian Foreign Minister Mauro Vieira stated that the leading BRICS countries have reached a consensus on the ‘criteria and principles’ that will guide the bloc’s future expansion, stating that “Our discussion focused on the criteria and principles for future BRICS expansion. Currently, there are 10 member countries, but there will be more in the future. These principles and criteria have been discussed, approved, and agreed upon. Regarding the list of new members, consultations will begin soon. The Russian Chair will consult with each current member, and we will announce the countries, if not by the end of the year, then in 2025, when the responsibility will pass to the Brazilian Chairmanship of BRICS.”

New BRICS Demographics

These potential new ‘BRICS Partners’ would change the overall BRICS dynamics in terms of global influence. In total, this expanded BRICS would account for just under 43% of global GDP, compared with the G7’s 30%. In population terms, the new BRICS, if all the proposed BRICS Partners joined, would account for about 57% of the total global population, as opposed to 10% for the G7.

In terms of simple demographics, the emergence of what may become the world’s largest multilateral organisation will start to make multiple countries think about the developing, new geopolitical dynamics and the implications. At present, it appears the West is not aware. But with another 20 countries having also applied to join BRICS, and not yet part of the overall structure — change to global geopolitics and trade flows is almost certainly arriving. The 2025 BRICS summit will be held in Brazil, when both these developments and continuing new ones will almost certainly have manifested themselves. The world is changing faster than many people realise.

Source: portal "Russia's Pivot To Asia"

A partnership agreement was signed between the REAB Consortium and the Eurasian Business Association in Moscow in the beginning of September 2024. On behalf of the EAAB, the document was signed by the association's president, Maxim Chistyakov, and on behalf of the REAB, by the consortium's president, Denis Devyatkin.

The Eurasian Business Association is a non-profit corporate organization that unites entrepreneurs from the member states of the Eurasian Economic Union (EAEU).

The purpose of the EAAB is to develop and strengthen Eurasian economic integration, coordinate entrepreneurial activities, and represent and protect the common property interests of the association's members.

Its main objective is to comprehensive assistance to the association members in sustainable, inclusive economic development, increasing competitiveness and scientific and production potential, increasing the volume of investment and innovation activity.

The implementation of the set tasks is carried out through the expansion of areas of economic cooperation, improvement of the regulatory environment, development of effective interaction in the B2B and B2G format, as well as with the EAEU bodies, participation in the development and examination of draft acts of the EAEU bodies and national legislation, assistance in eliminating barriers, restrictions and exceptions in the internal market of the EAEU.

Representatives of the association take part in the work of various advisory committees and working groups under the EAEU bodies, executive and legislative authorities.

By signing the agreement, the parties agreed on cooperation and partnership in the following areas:

• Exchange of business information
• Participation in public events held by the Parties
• Promoting economic development and interaction of the represented states, their business circles, development of partnership contacts, stimulation of investment activity
• Other ways of implementing the statutory goals of the Parties

During the dialogue, both parties agreed that this partnership creates new opportunities for promoting the interests of Russian business on the Eurasian continent and in friendly economic unions on the territory of the countries participating in them.