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EAEU expanded geography of international cooperation

EAEU expanded geography of international cooperation

4/29/2020

The Eurasian Economic Union has formalized cooperation or actively interacts with most of the world's leading countries and regional integration associations. This is stated in the report on implementing the Main Directions of the EAEU’s International Activities for 2019 considered by the Members of the EEC Council on April 28.

The GDP of third countries the Union has concluded free trade agreements and signed memoranda of cooperation with amounts to 29.6 trillion dollars (at purchasing power parity), that is 23.2% of the global GDP. These countries are home to 1.7 billion people or 21.6% of the world's population. Taking into account regional integration associations, the GDP of the Union's foreign partners amounts to 43.9 trillion dollars (at purchasing power parity) or 34.3% of the global GDP, and the population amounts to 3.7 billion people or 48.5% of the world's population.


Sectoral dialogue has been intensified within the framework of established cooperation mechanisms, first of all joint working groups.

The geography and quality of the Union's cooperation with international organizations continued to gradually expand, and the dialogue was filled with practical content. Such cooperation enables the Commission to gain first-hand best practices in regulating various economic realms as well as to further the Union’s interests on the international stage.

Interaction with the international business and expert community, including chambers of commerce and industry, business cooperation councils, regional development banks and key international discussion platforms has been consistently developing.


The report on implementing the Main Directions of the Eurasian Economic Union’s International Activities for 2019 will be presented at the next meeting of the Supreme Eurasian Economic Council.​