At the end of June, the Eurasian Economic Forum is scheduled to take place in Minsk. This large-scale event will be an open dialogue for representatives of the EAEU member states on the most important topics of the union's development, a platform for in-depth analysis of the processes taking place in it and the development of effective ways of interaction on the outer contour.
The Eurasian Economic Union was built in accordance with regional trends, which clearly indicated the need to form a new quality economic space. The issue of increasing the competitiveness of economies could be solved only in cooperation with the countries of the region. The economic indicators of the Eurasian five confirm the correctness of the choice made. The volume of mutual trade within the EAEU has doubled and reached almost $100 billion in 2024. At the same time, the share of national currencies in mutual settlements exceeded 92%. The volume of trade with third countries increased 1.4 times. Industrial production increased by 29%, agricultural production - by 26%.
Stable growth has also been observed in the last five years, when the global economy was entering a phase of systemic crisis. Today, we can say that each of the member states has occupied its niche in the EAEU and has been given the opportunity to build an economic development strategy for the years ahead.
The growing interest in the EAEU from external partners requires the creation of a new logistics network
This year, Belarus assumed the chairmanship of the EAEU for the third time. President Alexander Lukashenko outlined a number of areas that, in his opinion, require the closest attention at present.
The priority is undoubtedly the development of technological potential. The era of mutual technology exchanges is over. Possession of the latest ones has become a weapon of economic pressure. In a short period of time, technological independence has become a philosophy for the global economy development. According to the vision of the President of Belarus, success lies in deepening cross-industry cooperation, which will reduce duplication, focus resources on creating truly breakthrough technology and create a base for common development. The experience of implementing import substitution projects within the Union State allows to talk about which formats are effective.
The growing interest in the EAEU from external partners requires the creation of a new logistics network that will meet the interests of the countries of the region and, more importantly, be based on their own laws. Therefore, today there is a parallel process of adaptation to the new conditions within the "five" and the formation of effective mechanisms of interaction on the outer contour. The President of Belarus combined these two tasks since they should be solved only in combination. Fair competition and equal conditions for all participants are the principles based on which the EAEU logistics chain should operate.
It is difficult to overestimate the role of food security. The stability of the state and the image of the future directly depend on ensuring the basic needs of a person and the quality of his life. The President of Belarus suggested that efforts should be focused on creating a seed fund that is maximally adapted to regional conditions.
Work is underway with respect to citizens of the member-states to make all processes faster, more convenient and safer. Creating a single digital space will accelerate and simplify the interaction between the government, business and ordinary citizens. Everyone should feel the benefits of integration at all levels.
According to the Belarusian side, it is equally important to ensure the security of the EAEU in the information sphere. In addition to physical needs, people need spiritual food. Despite the fact that the EAEU is positioned primarily as an economic union, ideological support is of great value. Being citizens of the EAEU should be not only comfortable, but also honorable.
This is especially important in connection with the solution of the task of strengthening the international subjectivity of the EAEU. Pressure and unjustified criticism of the Union member-states from the West require systematic response measures in the information space. Today, it is necessary not just to reflect, but to develop new approaches to assessing integration associations. This will avoid distortions and protect the information space, strengthen its authority in the international arena.
The image of the EAEU can be assessed by simple indicators of interest from foreign countries. To date, the Eurasian Economic Commission has negotiated and signed several dozen memorandums of cooperation with third countries.
There are free trade agreements with Vietnam and Serbia. The EAEU member-states provide Serbian goods with a single market access regime. Serbia, in turn, decided to lift quantitative restrictions on the import of sunflower oil and fat-containing products from the countries of the Union. A full-scale free trade agreement with Iran came into force in May. In the future, the conclusion of trade agreements with Indonesia and Mongolia, Egypt and the United Arab Emirates. The non-preferential agreement on trade and economic cooperation applies to China.
The EAEU can be considered as a model integration structure.
Source: UNION Belarus / Russia