SAINT PETERSBURG, December 25. /TASS/. 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.

Putin also noted that the EAEU is successful as a reputable international association with a good base and effective structure. "The Eurasian [Economic] Union has forged its place as a reputable international integration association with an effective structure and a good base," the Russian leader said at a meeting of the Supreme Eurasian Economic Council.

Putin added also highlighted EAEU and Egypt negotiating a preferential agreement. 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.

He noted 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 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.