The GDP growth of the Eurasian Economic Union (EAEU) countries surpassed global rates last year, stated Russian Prime Minister Mikhail Mishustin, according to TASS.
"Last year, the GDP of the five [EAEU member states] increased by 3.8%, outpacing global growth rates," he said in an interview with the "Russia-24" TV channel on the occasion of the EAEU's tenth anniversary.
He noted that wages in the union countries are steadily increasing, unemployment is decreasing, and there are "good results" in improving the business environment.
Additionally, the Prime Minister emphasized that since the establishment of the EAEU, the real GDP of the union has grown by 12%, industrial production has increased by one-fifth, and agriculture by one-quarter.
According to official data, over the past ten years, the combined GDP of the EAEU member countries has risen from $1.6 trillion to $2.5 trillion, trade with third countries has grown from $579 billion to $923 billion, and mutual trade volume has increased from $45 billion to $89 billion.
Armenia joined the Eurasian Economic Union (EAEU) in January 2015.
Within the EAEU, the free movement of goods, services, capital, and labor is guaranteed, along with the implementation of coordinated or unified economic policies. These measures are defined by the Treaty on the EAEU dated May 29, 2014, and international agreements within the Union.
