Saturday, December 28 2024 13:33
Alexandr Avanesov

EAEU major actor in international economic relations - RF MFA 

EAEU major actor in international economic relations - RF MFA 

ArmInfo. Over the 10 years of its operation, the Eurasian Economic Union has become an important player in international economic relations. This is stated in a  statement by the Russian Ministry of Foreign Affairs.

The document notes that January 1, 2025 marks 10 years since the  entry into force of the Treaty on the Eurasian Economic Union (EAEU)  of May 29, 2014 and the beginning of the actual functioning of the  EAEU as a regional integration association. Over the years of its  existence, the Union and its member states - Russia, Armenia,  Kazakhstan, Kyrgyzstan and the Republic of Belarus - have managed to  achieve significant results. The domestic market is functioning and  improving, the geography of international contacts is expanding, and  mutual trade between the "five" countries is demonstrating steady  growth.

"The EAEU states are deepening and strengthening mutually beneficial  cooperation in various areas:  customs, customs-tariff, non-tariff  and technical regulation, industrial cooperation, transport and  logistics, energy and agriculture. Over the 10 years of its  operation, the Union has become an important player in international  economic relations. This is evidenced by the network of international  contacts of the EAEU, which includes free trade agreements with  Vietnam, Iran and Serbia, two non-preferential agreements with China  and more than 80 memorandums of cooperation through the supranational  body of the Union - the Eurasian Economic Commission - with countries  and integration associations around the world. Work is underway to  coordinate trade liberalization agreements with Egypt, Indonesia and  the UAE. Active interaction with observer states - Cuba and  Uzbekistan - also plays a significant role," the Russian Foreign  Ministry said in a statement.  

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