The Eurasian Economic Union (EAEU) is generally functioning successfully and continues to develop, Russian President Vladimir Putin said while speaking at an expanded meeting of the Supreme Eurasian Economic Council, according to TASS.
“Evaluations expressed by colleagues, both positive and critical, nevertheless clearly demonstrate that the Eurasian Economic Union is functioning overall successfully and continues to develop further,” the Russian leader said.
Putin stressed that Russia views the deepening of partnerships with all EAEU member states as an absolute priority.
According to the Russian president, the EAEU remains open to mutually beneficial and equal cooperation with other countries and integration blocs. He noted that many states, including those in the CIS, SCO, and ASEAN, have shown interest in cooperation with the “five-member” bloc.
Putin also reported ongoing negotiations on trade liberalisation with several partners, including India, as well as previously concluded agreements with Mongolia, the United Arab Emirates, and Indonesia, expressing support for further development of such initiatives.
The Russian leader separately highlighted efforts to harmonise customs legislation among EAEU countries, noting that this area continues to develop consistently.
Speaking about industrial cooperation, Putin said that effective value-added chains are being formed within the union, import substitution processes are advancing, and new technologies are being introduced. He also announced the launch of a preferential financing mechanism for industrial projects, which has already attracted interest from businesses in member states.
According to him, two projects are currently being implemented under this mechanism, applications for three more have been approved, and 14 are under review.
The president also emphasised decisions related to food security, including the formation of a common market for agricultural seeds, as well as cooperation in energy and other sectors.
Putin added that deeper integration is delivering tangible economic results for all EAEU countries, contributing to growth in incomes, industrial production, and living standards. He said total trade turnover between member states reached $95 billion last year, alongside growth in industry, agriculture, and construction.
By Jeyhun Aghazada
Source: caliber.az
scorpion.az