This was stated by Andrey Slepnev, Minister in charge of Trade of the Eurasian Economic Commission, while speaking at the session “Eurasian Trade and Logistics in the New Reality” as part of the 5th Eurasian Economic Forum in Astana.

“The main challenge is the profound transformation undergone by world trade, the global economy, and the world as a whole in recent years. That is why our objective is to keep pace and match the substance of this transformation,” the EEC Minister noted.

At a time when the whole world is facing major challenges related to destabilization in the Middle East, the issues of trade route security and stability assume even greater importance. In this regard, efforts to develop logistics links are becoming even more valuable today. And the EAEU has already come a long way in developing intra-continental routes along the “East–West” and “North–South” directions, where delivery, for example, from China to Europe is now cheaper than by sea. But it is important to continue investments in developing new transport corridors to transport not tens, but hundreds of millions of tons of cargo along them.

“In this regard, we are working to establish a cargo base. And this cargo base is our free trade agreements,” Andrey Slepnev reminded, noting the increase in trade under both existing agreements and the potential of new ones concluded last year, as well as those currently under negotiation.

The event attendees discussed issues related to establishing trade routes in the context of developing trade and economic relations with partner countries, forming paperless logistics, and utilizing “smart” technologies in transport. They also discussed ongoing investment projects, using the examples of Iran and Mongolia, as well as some trends in developing cooperation between the businesses of the Eurasian Economic Union States and their current partners.

Another session was devoted to analyzing the impact of global climate initiatives on the EAEU countries' economies. Particular attention was given to product carbon footprint standards, which have become an important tool for ensuring competitiveness in international markets. The session also focused on climate agenda issues under free trade agreements and climate projects being implemented in the Union countries.

As an example, Andrey Slepnev mentioned the plans being implemented by China, which accounts for over a third of the Eurasian Economic Union’s trade turnover. The country proceeds along the path of monitoring the carbon footprint of products throughout the supply chain: starting in 2027, this will affect about 200 product categories, and by 2030 it will affect several thousand, covering about 15% of the EAEU countries' exports. In this respect, our Chinese partners are ready to work out joint solutions aimed at ensuring that no measures harmful to trade are introduced as a result of the new regulation.