Eurasian Economic Union adopts declaration on further economic development

Leaders of the Eurasian Economic Union (EAEU) countries adopted a declaration on further development of the union at a meeting in Russia’s St Petersburg on Monday, the Kremlin said.

During the meeting of the Supreme Eurasian Economic Council, the heads of the EAEU member states summarised the results of the union’s work over the past few years, discussed prospects for further cooperation and approved a declaration on the further development of economic processes within the union until 2030 and for the period until 2045. This is reported by
Xinhua News Agency, a partner of TV BRICS.

In addition, they adopted a document on the main directions of the union’s international activities in 2024 and a document on the main directions of the union’s macroeconomic policy in 2024-2025.

The declaration includes specific measures to increase joint efforts in key sectors and defines additional areas of co-operation, such as the climate agenda, healthcare and tourism, Russian President Vladimir Putin said at the meeting.

According to the Russian leader, the trade turnover between the five EAEU countries grew by 8.9 per cent in the first nine months of 2023. Over the years of the EAEU’s existence, trade turnover between the member countries has almost doubled and their combined GDP has increased from $1.6 trillion to $2.5 trillion.

The EAEU comprises Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. From 1 January 2024, Armenia will preside over the EAEU on a rotational basis with a one-year term of office.

Photo: Xinhua News Agency



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