Thursday, May 30 2024 15:23

ArmInfo. The formation of the Eurasian Economic Union (EAEU) contributes to the establishment of  systemic economic cooperation between its member states that have  historically established trade, economic and cooperation ties.

This is stated in a statement by the delegations of Armenia, Belarus,  Kazakhstan, Kyrgyzstan, and Russia to the OSCE on the occasion of the  10th anniversary of the signing of the Treaty on the Eurasian  Economic Union. The statement notes that the abovementioned  delegations, guided by the Declaration on the further development of  economic processes within the framework of the Eurasian Economic  Union until 2030 and for the period until 2045 "Eurasian Economic  Path", share a commitment to building the Union as an international  organization of regional economic integration based on respect  generally accepted principles of international law; ensuring  beneficial cooperation for all Parties, equality and considering the  national interests of the Parties; compliance with the principles of  a market economy and fair competition.

"We note that the formation of the EAEU contributes to the  establishment of systemic economic cooperation between our states  that have historically established trade, economic and cooperation  ties. By combining the economic potential of our countries to achieve  synergistic results, we have formed a large- scale single market,  which has provided opportunities for the stable development of  national economies in conditions of the difficult macroeconomic  situation and global challenges that all states face today.  We share  the importance of continuing work to ensure the free movement of  goods, services, capital and labor within a single economic space,  and improving the institutional and legal framework of the EAEU.  We  welcome the development of mutually beneficial cooperation between  the countries of the Union with foreign partners and international  associations. We are interested in deepening interaction with foreign  countries in order to jointly build new value chains, modernize  existing ones and create new transport and logistics routes," the  statement further says.

At the same time, the delegations state that the results of  integration interaction are becoming more and more tangible for  citizens of the EAEU countries, as employment opportunities and  receiving social guarantees are expanding, consumer access to higher  quality products is opening through the introduction of advanced  technical standards and requirements.

"We note with satisfaction the growth of mutual trade, GDP,  industrial production, the increase in cooperative supplies,  agricultural production, and the expansion of the use of national  currencies in mutual payments of member states.

We consider the EAEU as an important regional center of attraction  for investments and intellectual resources, a territory of  innovation, high technology, a favorable business climate, a strong,  sustainable, competitive and prosperous association, functioning in  the interests of qualitatively improving the lives of citizens of our  countries and forming the basis for the stable development of the  economies of the EAEU member states ", the statement summarizes.