Vladimir Putin’s speech at the Supreme Eurasian Economic Council expanded format meeting. Key points:
Interaction within the EAEU is progressing dynamically and successfully in all integration areas despite the uneasy international situation.
Stable economic growth is seen in all member countries this year. GDP growth in the nine months of this year is over 9 percent in Armenia, almost 5 percent in Kazakhstan, over 4 percent in Kyrgyzstan, and 3.5 percent in Russia and Belarus.
Trade among the five countries grew 8.9 percent as the makeup of the trade improves: the percentage of high-tech products are increasing while the share of raw materials is declining.
The share of national currencies in transactions exceeded 90 percent, and this number will continue growing.
The circle of EAEU preferential foreign trade partners is expanding. The EAEU has signed a free trade agreement with Iran. Important agreements are in the making with other countries that have great economic potential, specifically, Egypt, and talks are ongoing with the UAE and Indonesia.
Overall, an increasing number of countries and international organisations are expressing interest in establishing mutually beneficial relations with the EAEU. Close cooperation has already been agreed to with the SCO and ASEAN.
Intensive efforts continue to develop the EAEU common transport system including the International North–South Transport Corridor.
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