Eurasian Economic Union sees record trade growth as integration deepens—Kazakh premier

The volume of trade between Eurasian Economic Union (EAEU) member countries has experienced robust growth in 2024, surpassing $98 billion—an increase of nine percent compared to $90.4 billion recorded in 2023.

This encouraging development was highlighted by Kazakh Prime Minister Olzhas Bektenov during the recent session of the Eurasian Intergovernmental Council, Caliber.Az reports, citing Kyrgyz media.

Bektenov underscored the significant expansion in intra-union commerce, noting that the trade volume has more than doubled since 2015. He further pointed out that the combined GDP of the EAEU member states grew by 4.4 percent, outpacing the average rate of global economic growth.

Addressing the future economic agenda of the union, Bektenov emphasized the critical importance of drafting a comprehensive roadmap to implement the declaration on the continued development of economic integration within the EAEU. This strategic plan is expected to guide economic processes through 2030 and extend its outlook through 2045.

“The roadmap must be grounded in practicality and closely aligned with the genuine interests of all member states,” Bektenov stated, highlighting the need for a cooperative and results-driven approach to sustain and accelerate economic progress within the union.

By Vafa Guliyeva