20 Mar 2025 Andrey Slepnev: "Over the last three years there has been a profound reconfiguration of our trade ties" Andrey Slepnev, Minister in charge of Trade of the Eurasian Economic Commission, told the participants of the annual 11th conference of the American Chamber of Commerce in Russia, which represents the interests of major American corporations, as well as companies from Europe and Asia, about relevant matters on the EEC trade agenda; in particular, these are negotiations on free trade agreements and implementation of existing agreements. "2024 produced certain interesting effects: trade within the Eurasian Economic Union grew by 9%. Moreover, this is happening against the background of previous growth. Trade with external countries grew far less, within 1%, which means it actually remains stable. But at the same time our trade ties reconfigured over three years," he mentioned. According to Andrey Slepnev, by now there has been a serious drop in the share of trade with the European Union, but on the other hand, there has been a significant growth toward the Global South, especially China. Thus, the situation has stabilized. EAEU business built new links that are beginning to function more dynamically. "Our Union agenda is generally proactive — both on work in the domestic market, including subsidizing cooperation projects and removing barriers, and on work with partners from third countries," the EEC Minister emphasized. Speaking about the possibilities that business gets from negotiation efforts with external partners, Andrey Slepnev reminded that the EAEU currently has free trade agreements with Vietnam and Serbia, and on May 15 a full-fledged free trade agreement with Iran will come into force. Negotiations are underway to conclude trade agreements with Egypt, Indonesia, Mongolia and the United Arab Emirates. Interaction with the People's Republic of China is governed by a non-preferential agreement on trade and economic cooperation. Also in the context of cooperation with trade partners, the EEC Minister dwelt on the active work in the field of digitalizing cargo transportation and on regulation issues in mutual and foreign e-commerce. "Due to the growing importance of e-commerce as a way to access foreign markets, especially for SMEs, our trade agreements include separate regulatory aspects and dialogue mechanisms. They are aimed at its development, taking into account the protection of interests of both consumers and bona fide sellers, suppliers and marketplaces," told Andrey Slepnev. The topic of converging positions of the Union countries on the climate agenda, which is to ensure seamless trade within the EAEU common market and externally with key trading partners, was touched upon separately.
20 Mar 2025 Eldar Alisherov presented EAEU’s positive trends and strategic opportunities at American Chamber conference Eldar Alisherov, Minister in charge of Integration and Macroeconomics of the Eurasian Economic Commission, participated in the annual conference of the American Chamber of Commerce in Russia involving the Eurasian Economic Commission. The EEC Minister noted the positive changes in the economy of the EAEU countries. According to him, last year the cumulative GDP growth of the Eurasian Five countries amounted to 4.2%. He noted that the share of mutual trade of the Union countries is steadily growing: last year it amounted to almost a fifth (19.8%) of the total foreign trade turnover of the EAEU. Mutual trade in goods in the Union doubled over a decade to reach nearly US$100 billion in 2024. "Our momentum is significantly above the global average growth rate of 3.2% last year. Owing to the flexibility and high adaptability of the EAEU economies, it was possible to actively address the tasks of the Union's integration into the global economic architecture, expanding the geography and volume of exports, as well as attracting investments and modern technologies," Eldar Alisherov noted. In his speech, the EEC Minister paid special attention to the work on implementing strategic development documents of the Eurasian Five countries. Eldar Alisherov emphasized that all conditions for stable and profitable operation of businesses are present in the EAEU countries. All key aspects of the Eurasian Economic Path Declaration, which defines the vectors of the Union's development until 2030 and 2045, are business-oriented and aimed at ensuring stable and advanced growth of the Member States' economies. Talking about the EAEU's international activities, the EEC Minister said that during the Commission's work it has formalized the relations with key trade and economic partners: countries, regional associations and international organizations. These agreements allow for a systematic dialogue on a wide range of topics. “The GDP of third countries and regional associations the EEC has formalized relations with amounts to US$71.9 trn, or 49.9% of the world's GDP," Eldar Alisherov noted. 
19 Mar 2025 Goar Barseghyan: “Industrial cooperation is a growth driver in the EAEU real economy” The industrial sector is a key priority of the new stage of the Eurasian economic integration and traditionally acts as a growth driver in the real economy of the Eurasian Economic Union. This was stated by Goar Barseghyan, Minister in charge of Industry and Agriculture of the Eurasian Economic Commission, at the congress of the Russian Union of Industrialists and Entrepreneurs. “Introduction of the financial support mechanism for cooperative projects has become one of the significant achievements of the current integration stage. Since June 2024, the EAEU has launched a pilot mechanism for subsidizing interest rates on loans and credits aimed at implementing joint cooperative projects,” the EEC Minister noted. Goar Barseghyan presented the first two projects approved by the Commission's Council: Murom Railway Switch Plant to manufacture products for the construction of the Moscow – St. Petersburg High-Speed Railway and Kazrost Engineering Ltd. to expand the production of agricultural machinery in the Republic of Kazakhstan involving enterprises from other EAEU countries. “At present, on the instructions of the Heads of Government of the Member States, the Commission works on expanding the financial support mechanism for cooperation in the agricultural sector. The criteria and sources of such support are discussed jointly with the business community, with due regard to the specific nature of the agricultural sector,” Goar Barseghyan noted, adding that the EEC continues to work on creating conditions for sustainable growth and deepening integration in the interests of all the Member States. The EEC Minister invited representatives of the business community and business associations of the EAEU countries to actively participate in the practical implementation of this supranational instrument, which provides great opportunities for strengthening economic cooperation and developing industrial potential.
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