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Money and peace: online summit of the EAEU and the approach of the schengen visa for €35

The impact of COVID-19 on the services sector, the online summit of the Eurasian Economic Union and other relevant economic news were commented on for Radio Sputnik Belarus by Aleksei Avdonin, an analyst of the Belarusian Institute for Strategic Research.

On April 14, the leaders of the EAEU countries communicated via video conferencing. Aleksei Avdonin, an expert of the Belarusian Institute for Strategic Research, provided comments for Sputnik listeners on key points in the integration agenda, overcoming common difficulties of partner countries and much more.

"In the current conditions, for the next two to three years, the collapse of the economy should be a reason for special attention to the domestic market and the implementation of urgent measures to minimize the consequences of the pandemic", said the expert.

According to him, the tourism industry and passenger transportation have already suffered, followed by the services sector (hairdressing salons, catering), further along the chain of rent profitability. Let us not forget about the supply of raw and other materials... All this will affect the work of the real sector. Is it possible today to create a mathematical model of the consequences and calculate the degree of our possible economic losses?

"It is very simple to calculate the model. It is necessary, first of all, for supranational structures of the EAEC for the coordination of efforts to overcome the crisis issues," said Avdonin.

As for the agreement on simplifying the visa regime with the EU, which was signed by President Lukashenko, now it is up to the European structures. However, the situation is that the Belarusians will apparently be unable to benefit from the agreement for a very long time.

"This work was carried out by the Belarusian Ministry of Foreign Affairs and the relevant European structures, the agreement is designed for a long period, to a greater extent the agreement concerns business communication," the expert recalled.