The leaders of the Eurasian Economic Union (EAEU) countries adopted a declaration on further development of the union at a meeting in St. Petersburg on Monday.
During a meeting of the Supreme Eurasian Economic Council, heads of EAEU member states summarized the union's achievements over the past few years, discussed prospects for future cooperation and approved a declaration on the further development of economic processes within the framework of the union until 2030 and for the period until 2045.
They also adopted a document on the main directions of the union's international activities in 2024 and a document on the union's main macroeconomic policy guidelines from 2024 to 2025.
"This is a new document of program nature, which provides for specific measures to intensify joint efforts in key sectors, as well as identifies additional areas of cooperation, such as the climate agenda, medicine, tourism and some others," Russian President Vladimir Putin said.
According to the Russian leader, in the first nine months of 2023, trade between the five EAEU countries increased by 8.9%. Over the years since its inception, trade between EAEU member states has almost doubled and their aggregate GDP has grown from $1.6 trillion to $2.5 trillion.
"Important agreements are currently being drafted with other countries with strong economic potential. I mean a preferential agreement between the EAEU and Egypt, one of our key partners in the Arab world and Africa with which EAEU nations have close relations and intensive trade and economic contacts," Putin said.
Matters discussed at Monday's meeting included the results of the Eurasian Economic Union's work over the past years and prospects for further cooperation. Among the main results of the meeting was a free trade agreement between the EAEU and Iran, which was signed on the sidelines of the summit. On behalf of Russia, it was endorsed by Deputy Prime Minister Alexey Overchuk.
Earlier in the day, the EAEU and a representative of the Iranian government signed a full-fledged free trade agreement, replacing the temporary agreement in effect since 2019. The two sides also agreed to expand cooperation in mining, education, medicine and other fields.
Starting from Jan. 1, 2024, Armenia will take over from Russia the rotating EAEU chairmanship with a one-year tenure.
