Tokayev says EAEU trade to surpass $100 billion
Kazakh President Kassym-Jomart Tokayev said trade turnover among Eurasian Economic Union member states is expected to exceed $100 billion this year as the bloc continues to demonstrate stable economic growth despite global uncertainty, reports a Qazinform News Agency correspondent.
The meeting of the Supreme Eurasian Economic Council was held in Astana under the chairmanship of President Tokayev.
Addressing the session, the Kazakh leader noted that May 29 marks a symbolic date for the union, as the founding treaty of the EAEU was signed on this day in 2014.
“The Eurasian Economic Union continues to maintain positive macroeconomic dynamics,” Tokayev said. “According to forecasts, the growth rate of the combined GDP of the Union’s member states in 2026 and 2027 will amount to around 2.5%.”
According to him, mutual trade between EAEU countries exceeded $95 billion last year despite volatility in global markets.
“In the current year, we expect an increase in mutual trade by more than 6%, which will allow us to surpass the $100 billion mark,” he stated.
At the same time, Tokayev warned that global economic conditions remain challenging. Referring to International Monetary Fund forecasts, he said global economic growth is expected to slow to 3% this year.
“In these conditions, the tasks of adapting our union to new realities, strengthening internal resilience and increasing competitiveness acquire particular relevance,” he stressed.
The President highlighted digitalization and artificial intelligence as key priorities for the future development of the union. According to Tokayev, global investments in AI technologies have already exceeded $1 trillion, while their contribution to the global economy may surpass $7 trillion in coming decades.
Tokayev noted that Kazakhstan has significantly expanded investment in innovation and digital technologies.
“In Kazakhstan, the volume of investments in innovative projects has increased more than fivefold, while more than half of all investments are directed specifically to the digital sphere,” he said.
The Kazakh leader also pointed to the rapid growth of the country’s IT sector. According to him, more than 100 high tech companies are currently developing within the Astana Hub ecosystem, while Kazakhstan’s IT exports have exceeded $1 billion.
Tokayev added that Kazakhstan ranks 24th in the UN e-Government Development Index and is among the world’s top 10 countries in terms of online public services quality.
Earlier, Qazinform News Agency reports that President Tokayev had congratulated the SEEC meeting participants on the Eurasian Economic Union Day.
