Kyrgyzstan lauds Eurasian Economic Union's economic vitality
The Eurasian Economic Union (EAEU) has grown into a major center of economic activity over the past decade, Kyrgyzstan's top government official said Friday, Xinhua reports.
Adylbek Kasymaliev, chairman of the cabinet of ministers, told an expanded session of the Eurasian Intergovernmental Council that the bloc has signed seven trade agreements and is building ties with key economic groupings in Eurasia and beyond.
"In the context of global transformation, it is necessary to turn the EAEU into a harmoniously developed pole of the multipolar world by 2030, ensuring a high level of technological progress and public welfare. We are ready to create all necessary conditions for this," he said.
Kasymaliev also noted that over the 10 years since the formation of the union, its gross domestic product (GDP) has grown by 18 percent and exceeded 2.5 trillion U.S. dollars. Industrial production has increased by almost 30 percent, agricultural production by 25 percent, and mutual trade in the union has more than doubled. At the same time, the volume of mutual trade between Kyrgyzstan and the EAEU countries has doubled.
Russian Prime Minister Mikhail Mishustin stressed the need to further strengthen integration mechanisms.
"It is necessary to continue to remove barriers for the free movement of goods, services and capital and improve the business environment," he added.
Formed in 2015, the union groups Russia, Kazakhstan, Belarus, Kyrgyzstan and Armenia, aiming to modernize and enhance the competitiveness of their economies, strengthen cooperation and foster stable development to improve living standards in member states.
As written before, the Eurasian Intergovernmental Council to hold regular meeting in Kyrgyzstan.
