Russia's mutual trade turnover with Eurasian Economic Union (EAEU) member states has more than doubled between 2015 and 2024, according to Gennady Gatilov, Russia's Permanent Representative to the UN Office and other international organizations in Geneva.
“From 2015 to 2024, the volume of Russia's mutual trade with union countries increased more than twofold, with its share in Russia's total foreign trade growing from 8.2% to 13.2%,” he stated during an EAEU roundtable at the UN headquarters in Geneva, dedicated to the outcomes and prospects of the partnership after ten years of the union's existence.
The diplomat also highlighted a significant increase in the share of Russia's trade with countries that have trade agreements with EAEU member states. This share grew from 13.9% in 2015 to 36.3% in 2023. “Specifically, trade turnover with China increased 3.6-fold, with Iran 3.2-fold, with Vietnam 1.3-fold, and with Serbia 1.4-fold,” Gatilov detailed.
The EAEU was established in January 2015, evolving from the Customs Union and the Common Economic Space of Russia, Belarus, and Kazakhstan. It currently comprises five member states: Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia. The organization maintains close cooperation with several other nations, including China, the UAE, Iran and Vietnam.
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Based on materials from TASS