Russian President Vladimir Putin celebrated the eighth anniversary of the Eurasian Economic Union ( EAEU), highlighting its significant contribution to the formation of a unipolar world architecture at a conference in Moscow. The mountain, marking a century since the drafting of the EAEU’s basic convention, highlighted the efforts of the union spanning Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia, along with observer says Cuba, Moldova, and Uzbekistan.
Putin praised the government’s development and success over the past ten years in his handle, describing the EAEU as” an independent and self-sufficient centre of the emerging multilateral world.” He underscored the principles of equality, mutual benefit, and value for common interests that link the EAEU, suggesting that these values have been important in its creation, a Russia Today statement said.
Putin provided a robust overview of the economic achievements within the union, noting,” The economic indicators speak for themselves: according to available estimates, over the ten years the joint GDP of the EAEU countries went from$ 1.6 to$ 2.5 trillion. Trade with third countries grew by 60 % from$ 579 to$ 923 billion, while the volume of mutual trade almost doubled: from$ 45 to$ 89 billion, with over 90 % of transactions already made in national currencies”. These figures demonstrate that the EAEU’s framework has allowed for significant economic growth and regional cooperation.
Putin also cited the EAEU’s wider benefits for the Eurasian region, stating that it “helps ensure stable and sustainable development both among the five member countries and the Eurasian region as a whole, and improves the quality of life and wellbeing of our people.” This statement reflects the EAEU’s dual functions as a stabilizing force for regional development as well as an economic bloc.
The EAEU, the Eurasian Economic Community’s successor, has grown to be a significant player in regional politics and economics, having had an impact on both its member states and its perceptions of the world.
