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.