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EAEU countries’ mutual trade up over 13% in 11M 2022 to $74 bln

It is stressed that more than 20 amendments have been made in the Union’s documents for the new and present norms not to create additional burden on business

MOSCOW, January 31. /TASS/. Mutual trade of the Eurasian Economic Union’s (EAEU) member states increased by more than 13% in 11 months of 2022 to around $74 bln, the press service of the Russian Economic Development Ministry said in a statement on Tuesday.

"EAEU countries’ mutual trade rose by more than 13% in 11 months of 2022 to almost $74 bln," Minister Maksim Reshetnikov was quoted as saying following a meeting of the high-level working group on ensuring the sustainability of EAEU nations’ economies.

The EAEU countries’ customs and tariff regulation was adjusted last year for supporting business, he said, adding that systemic enterprises of the Union’s member states would be provided with the possibility of deferral or instalment plan for payment of import customs duties.

"More than 20 amendments have been made in the Union’s documents for the new and present norms not to create additional burden on business. Approaches have been approved on expanding payments in national currencies, and the basis for secure payments between companies of the Eurasian Union’s countries has been created," Reshetnikov noted. "All those decisions influenced the dynamics of the Union’s economic development," he said.

The next meeting of the working group will be held in March after the meeting of the Council of the Eurasian Economic Commission (EEC).