Over the ten years of its existence, the Eurasian Economic Union (EAEU) has become a significant platform for close economic interaction among its member states' economies. Armenian Prime Minister Nikol Pashinyan made this statement during the meeting of the Supreme Eurasian Economic Council in Moscow on May 8.
"It is clear that the legal framework of the EAEU is still being formed, and this process is far from over. It is important that it is being formed within the framework of economic logic. Only by respecting the interests of partner countries and seeking constructive solutions that meet the interests of each member state can we maintain the effectiveness of the EAEU's functioning," said Pashinyan.
Pashinyan called for efforts to focus on considering national priorities for socio-economic development.
"Our cooperation should work in the interests of the citizens and businesses of our countries, contributing to their prosperity and the modernization of national economies," he said.
Armenia consistently advocates for compliance with the fundamental principles laid down in the EAEU Treaty and expresses readiness for active interaction with all EAEU member states, as stated by Pashinyan.
According to official data previously announced by Russian President Vladimir Putin, over the ten years, the cumulative 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.
Armenia joined the Eurasian Economic Union (EAEU) in January 2015.
Within the EAEU, the 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 EAEU Treaty of May 29, 2014, and international agreements within the Union.
