MOSCOW, May 31. /TASS/. The growth of the gross domestic product (GDP) of the countries of the Eurasian Economic Union (EAEU) at the end of last year exceeded global figures, Russian Prime Minister Mikhail Mishustin said.
"At the end of last year, the GDP of the ‘five’ [EAEU member states] <...> increased by 3.8%, surpassing global growth rates," he said in an interview with the Rossiya-24 TV channel on the occasion of the tenth anniversary of the Eurasian Economic Union.
He drew attention to the fact that the GDP growth rate in the Eurasian "five" (Russia, Armenia, Belarus, Kazakhstan, Kyrgyzstan) is higher than in the CIS countries that are not involved in such a deep integration format.
"Last year, the growth of Armenia's gross domestic product exceeded 8.5%. The volume of industrial production reached 4%. By the way, the situation is similar in Kyrgyzstan, where the GDP dynamics in 2023 was also high," the Russian Prime Minister said.
Mishustin noted that wages are growing steadily, unemployment is decreasing and "good results" are being noted in terms of improving the business environment in the countries of the association. In addition, he emphasized that since the creation of the EAEU, the growth of its real GDP has reached 12%, while industrial production has grown by a fifth, and agriculture - by a quarter.
He also drew attention to the fact that Belarus' participation in integration provides 18% of its GDP, the growth of which over the past year almost reached 4%. Kazakhstan also showed positive dynamics, he added. "Over the full nine years of the union’s existence, the economy of Kazakhstan has received more investments from Russia, Armenia, Belarus, and Kyrgyzstan than in all 22 years after the declaration of independence of Kazakhstan," he noted.
At the same time, Russian exports to the countries of the Eurasian Economic Union (EAEU) have doubled since its creation, Mishustin said. "Russia’s exports to the countries of the union have doubled since its creation," he noted.
The Prime Minister emphasized that Russia trades more complex products with the EAEU member states. "For example, in the trade turnover with them, the share of machinery, equipment and vehicles at the end of last year amounted to almost a quarter," Mishustin added.
Russian companies, he noted, are implementing large-scale investment projects in various sectors, including energy, industry, and the transport sector.