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EAEU’s energy cooperation with Russia enables it to compete on global market — Overchuk

Alexey Overchuk noted that Kazakhstan, Kyrgyzstan, Armenia, Belarus are able to create "a better structure of the cost of goods and services production"

KAZAN, May 17. /TASS/. The partnership of Eurasian Economic Union (EAEU) member states with Russia in the area of energy enables them to compete on foreign markets, Russian Deputy Prime Minister Alexey Overchuk told a press conference on the sidelines of Russia - Islamic World: KazanForum 2024.

"EAEU member-states’ economic growth rates speak for themselves: Kazakhstan - 5.1%, Kyrgyzstan - over 6%, high rates in Armenia - 8.6% if I’m not mistaken, Belarus - 3.9% despite sanctions. This all demonstrates that those countries are able to compete on foreign markets due to cooperation in the energy area with Russia, create a better structure of the cost of goods and services production. This is within an established market," he said.

TASS is the general information partner of the International Economic Forum "Russia - Islamic World: KazanForum 2024" that is being held on May 14-19 in Kazan. This year's keynote is "Trust and Cooperation." The main goal of the forum is to strengthen trade and economic, scientific and technical, social and cultural ties between Russian regions and the countries of the Organization of Islamic Cooperation (OIC), as well as to promote the development of the Islamic financial system institutions in Russia.