Russian President Vladimir Putin stated that the Eurasian Economic Union (EAEU) is an effective structure that benefits the economies of all its member states, according to Interfax.
"The Eurasian Union today is an efficient and dynamic integration structure, the activities of which contribute to the growth of trade and investment exchanges, the activation of business contacts, the expansion of cooperation ties, which ultimately brings real benefits to each of the participants in our association," he said at a meeting of the Supreme Eurasian Economic Council (SEEC).
According to him, interaction within the EAEU helps ensure stable and sustainable economic development for both member states and the entire region as a whole.
Putin noted that over the past decade, the aggregate GDP of EAEU member states has increased from $1.6 trillion to $2.5 trillion, trade turnover with third countries has grown from $579 billion to $923 billion, and mutual trade volume has increased from $45 billion to $89 billion.
