MOSCOW, 29 March (BelTA) – The GDP growth in the Eurasian Economic Union (EAEU) has significantly exceeded that of the European Union, Russian Deputy Prime Minister Alexey Overchuk said during the plenary session of the CIS International Economic Forum in Moscow on 28 March, BelTA has learned.
"In 2024, the GDP of the EAEU grew by 4.2%. For comparison, according to preliminary estimates, the GDP of the EU inched up by 0.8%. The EAEU's experience could serve as a valuable foundation for building a space of welfare and prosperity in Eurasia," Alexey Overchuk stated.
“In particular, the elimination of non-tariff barriers within the EAEU achieved through the adoption of unified mandatory requirements for goods (uniform SPS standards and technical regulations) along with the elimination of customs control provided a sustainable annual GDP growth surplus of $14.5 billion in 2015-2023. These measures also resulted in the EAEU mutual trade being on average 24% higher,” he stated.
"In 2024, the GDP of the EAEU grew by 4.2%. For comparison, according to preliminary estimates, the GDP of the EU inched up by 0.8%. The EAEU's experience could serve as a valuable foundation for building a space of welfare and prosperity in Eurasia," Alexey Overchuk stated.
“In particular, the elimination of non-tariff barriers within the EAEU achieved through the adoption of unified mandatory requirements for goods (uniform SPS standards and technical regulations) along with the elimination of customs control provided a sustainable annual GDP growth surplus of $14.5 billion in 2015-2023. These measures also resulted in the EAEU mutual trade being on average 24% higher,” he stated.
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