Director-General of the Syrian Exports Development and Promotion Commission Ehab Esmandar said that the Commission has set a standard economic model that could evaluate the influence of joining the Eurasian Economic Union (EEU) on the economic indicators.
Esmandar calrified that the core idea lies in linking the external trade with the various economic indicators to monitor the impact of any change, pointing out that the model focuses on monitoring the general impact of joining EEU through three scenarios and “the estimation of regression” on the macro-economic indicators and the macro-indicators of the agricultural, industrial, mining and services sectors as well as the outward relative advantages and the change of the indicators after joining the EAU.
He said that designing the model based on the regression (shortage) of supply and demand could be compensated through the imports, adding that this model was tested through making two shocks in the balance of trade by increasing the global price of the imports and doubling the rate of exchange.
The Director-General stressed that the imported products to the EEU enjoy outward relative advantage worldwide because the outward relative advantage is more than one and its value rises remarkably if calculated at the EEU level.
“The three scenarios indicate that a feasible advantage could be taken through joining the Customs Union, which includes Russia, Belarus and Kazakhstan regarding the macro trade of balance, as the joining would negatively affect the available commodities, services, macro demand and the tax revenuesæ ” he added.
Esamdar pointed out that the Syrian exports to the EEU integrate with the imports from it, so there are no restrictions on the external trade after joining EEU