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Eurasian Economic Union

Share of trade in national currencies between EAEU countries exceeds 90% — Deputy PM

According to Alexey Overchuk, the EAEU member states are approaching the possible limit for trade in national currencies

MOSCOW, April 3. /TASS/. The countries of the Eurasian Economic Union (EAEU) are reaching the possible limit for trade in national currencies, this figure has exceeded 90%, Russian Deputy Prime Minister Alexey Overchuk said on the Rossiya-24 TV channel.

"Currently, trade turnover with the EAEU countries in national currencies has exceeded 90%, so it is even difficult to grow further, because there are other currencies that are not the national currencies of the EAEU member states, which are also used. Therefore, here we are probably already approaching the possible limit," he said.

Overchuk added that Russia’s economic growth is linked with the development of neighboring countries, therefore Russia creates conditions for the development of those countries’ economies.

"Last year, in regulatory terms, we completed the creation of a system of projects to support industrial cooperation in the EAEU. It implies subsidizing the interest rate on loans that will be issued for the implementation of projects in industrial production, in which three or more EAEU countries will participate," the Deputy Prime Minister said.

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Foreign policy Eurasian Economic Union Trade & Cooperation

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