The Eurasian Economic Union (EAEU) has established itself as a significant player in international economic relations over its decade of existence, achieving notable milestones across various sectors. This statement was made by the Russian Foreign Ministry in recognition of the 10th anniversary of the organization's operations.
According to the ministry, the EAEU's growing influence is evident in its extensive network of international agreements, including free trade deals with Vietnam, Iran, and Serbia, two non-preferential agreements with China, and over 80 memorandums of cooperation through the Eurasian Economic Commission with countries and organizations worldwide.
The EAEU, comprising Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan, has made substantial progress. "The internal market continues to develop and improve, while the scope of international engagement expands. Mutual trade among the member states demonstrates consistent growth," the ministry highlighted.
Member states have deepened cooperation across customs, tariff and non-tariff regulation, industrial collaboration, transport and logistics, energy, and agriculture.
Additionally, the EAEU is working on trade liberalization agreements with Egypt, Indonesia, and the UAE. The ministry also underscored the importance of active engagement with observer states such as Cuba and Uzbekistan, which play a crucial role in the union's activities.
GSV "Russia - Islamic World"
Photo: Russian Foreign Ministry
Based on TASS materials