Eurasian Economic Union boasts increasing trade, economic growth


ASTANA (TCA) — Trade has been growing both between member countries of the Eurasian Economic Union (EEU) — Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia — and between the bloc and third countries, Prime Minister of Kazakhstan Bakytzhan Sagintayev said at a meeting of the Eurasian Intergovernmental Council in Kazakhstan’s capital Astana on August 14, the official website of the Prime Minister of Kazakhstan reported.

The meeting was attended by prime ministers of Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia.

The meeting participants agreed that the work on creation of a barrier-free zone in the internal market of the EEU will be continued. The EEU member states are working on the preparation of road maps for the removal of more than 60 obstacles to mutual trade.

In addition, among the issues raised by Kazakhstan at the meeting were the discussion of the draft Concept for the formation of a common financial market, the adoption of shipping contracts, the procedure and conditions for removing technical barriers in mutual trade with third countries, and the creation of a common labor market.

At the meeting in Astana, Belarus Prime Minister Andrei Kobyakov said that the economic growth in the Eurasian Economic Union is becoming more sustainable, BelTA news agency reported.

“I am very pleased that our meeting is held against the background of economic growth, which happens for the first time in recent years. Growth is becoming more sustainable; more economic sectors report positive dynamics. This inspires optimism,” he said.

Sergey Kwan