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Eurasian Economic Union

EAEU to increase its share in global economy from 2.5% to 4-5% — Russian deputy minister

The Union’s trade with external world is much higher than mutual trade between its members, Dmitry Volvach noted

OMSK, September 17. /TASS/. The share of the Eurasian Economic Union (EAEU) in global economy should go up from 2.5% to 4-5%, Russian Economic Development Deputy Minister Dmitry Volvach said.

"We have a task of bringing the share of the Eurasian Economic Union’s economy in global economy, which equals 2.5% now, to 4-5% at current prices," he said at the fourth forum of heads of regions of SCO (Shanghai Cooperation Organization) member states.

The Union’s trade with external world is much higher than mutual trade between its members, Volvach noted. "This is a global task," he said, adding that "currently the issue is about expanding the Union, after which the tasks will clearly be adjusted."

The Eurasian Economic Union is an international integration economic formation, with Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan participating. Observer status has been granted to Moldova, Cuba and Uzbekistan.

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Eurasian Economic Union

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US vote at UNSC rejected chance of stopping 'horrific bloodshed' in Gaza, Russian MFA says

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Ex-UK Labor party leader wants PM to clarify situation with Storm Shadow missiles

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Russia to address NATO’s engagement in strikes deep inside country — SVR

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US, NATO decision on strikes continues policy of escalation — Putin

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