ST. PETERSBURG, December 25. /TASS/. Russian President Vladimir Putin has shown interest in the Eurasian Economic Union (EAEU) and Egypt negotiating a preferential agreement as soon as possible. According to him, this document is nearing completion, and negotiations with other countries are underway.
"At the moment, important agreements are being negotiated with countries with significant economic potential. We are discussing a preferential agreement between the EAEU and Egypt, one of our main partners in the Arab world and on the African continent, with which the Eurasian Union countries have strong relations and extensive trade," Putin said at a meeting of the Supreme Eurasian Economic Council.
He added that "work on the draft free trade agreement with Egypt is at a very advanced stage." "And we are certainly interested in signing it as soon as possible," Putin emphasized.
He added that Russia's GDP is expected to grow by 3.5% by the end of 2023 and this figure is expected to grow in other countries of the Eurasian Economic Union (EAEU) as well. "This year, all member countries of the association (EAEU - TASS) are reporting stable economic growth. So, in Russia, in the first three quarters [of 2023], GDP rose by 3%, and by the end of the year it is expected to be 3.5%," Putin said.
At the same time, he noted, "there is an increase in the gross [domestic] product - and a significant one - in other EAEU states." Putin stated that, based on information available to him, GDP growth in Armenia will be more than 9% for the first nine months of this year, over 5% in Kazakhstan, more than 4% in Kyrgyzstan, and 3.5% in Belarus.
Putin also underlined that contacts within the union are continuing to develop actively and successfully in all key areas of integration development, even despite the well-known difficulties associated with the difficult international external situation. Thus, industrial production in the EAEU expanded by 3.5%, while the construction industry increased by 9.3%, according to him.
Meanwhile, cooperation within the EAEU is progressing successfully, revealing the economic potential of the association’s countries, Russian President Vladimir Putin said at a meeting of the Supreme Eurasian Economic Council.
"The Eurasian Union has been operating for almost 10 years, and during this time the volume of mutual trade has almost doubled, and the total GDP of the EAEU countries has grown from $1.6 trillion to $2.5 trillion," he said.