Russian Prime Minister Mikhail Mishustin stated that Armenia has increased its exports to the Eurasian Economic Union (EAEU) market 14-fold, with the country's GDP growth exceeding 8.5%. He announced this in a televised interview on Russia-24 on the occasion of the EAEU's 10th anniversary.
Mishustin noted that all five member states of the EAEU benefit from participating in the Union due to the absence of customs control at internal borders. According to him, the volumes of mutual trade have significantly increased: Armenia increased exports 14-fold, Belarus and Kazakhstan more than doubled their exports, and Kyrgyzstan tripled theirs.
The head of the Russian government emphasized that the GDP growth rates of the EAEU member states surpass those of the CIS countries not involved in such a deep integration format. Mishustin also noted that Armenia's industrial production growth was 4%.
Armenia joined the Eurasian Economic Union (EAEU) in January 2015.
Within the framework of the EAEU, free movement of goods, services, capital, and labor is guaranteed, as well as 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.
