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03 February 2023, 15:56

Myasnikovich: EAEU potential enables the union to secure GDP growth at 4.5-5.5% per year

Mikhail Myasnikovich
Mikhail Myasnikovich

MINSK, 3 February (BelTA) - The potential of the Eurasian Economic Union (EAEU) enables the union to secure the annual growth of GDP at 4.5-5.5%, Chairman of the Board of the Eurasian Economic Commission Mikhail Myasnikovich told the media after the meeting of the Eurasian Intergovernmental Council in Almaty on 3 February, BelTA has learned.

“The ongoing year is very important. We are set to adopt 57 international agreements and acts so that to ensure unconditional compliance with the strategic areas of our integration by 2025. Most of them are already at a high level of development. Many agreements are pending ratification by the parliaments of the EAEU member states,” Mikhail Myasnikovich said.

The Board of the Eurasian Economic Commission has already started the fulfillment of the tasks outlined in the address of Russian President, Chairman of the Supreme Eurasian Economic Council Vladimir Putin to the heads of state of the EAEU member states on the occasion of Russia's presidency in the Union in 2023. “We have launched the implementation of cooperation projects. The rules of access to interstate power transmission services have been approved. We have exchanged views on the document being prepared to launch a common gas market. We have considered the macroeconomic situation in the EAEU countries and also the proposals to ensure the sustainability of economic development,” he said.

“There are difficulties in foreign trade, but they are largely compensated by mutual trade. The growth of mutual trade was 13.4% and cooperative ties increased by 15.7%. The commission's proposals for mechanisms to promote economic development have been approved. We believe that the efficient use of our countries' potential enables us to ensure the growth of the total gross domestic product of the EAEU at 4.5-5.5% per year, while maintaining the internal stability of the economy,” the chairman of the Board of the EAEU said.

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