EAEU is 11 years old: A History of Success – Ambassador of the Russian Federation to the Republic of Armenia S.P. Kopyrkin on EAEU Day
YEREVAN, May 29. /ARКА/. The countries of the Eurasian Economic Union (EAEU) celebrate EAEU Day on May 29. This dynamically developing integration organization, uniting Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan, has proven its relevance and viability in a relatively short period of time by historical standards.
Since the signing of the Treaty on the EAEU in 2014, a common economic space has been formed, covering almost 200 million people, in which the “four freedoms” are fully operational – the movement of goods, services, capital and labor. The removal of internal barriers, the unification of requirements, the coordination of technical standards, the freedom of movement of specialists – all this brings concrete and tangible benefits to the citizens of the participating countries.
It is significant that the illegitimate sanctions imposed by the West against Russia and Belarus could not paralyze cooperation within the EAEU. Moreover, they became an incentive to strengthen the mechanisms of Eurasian integration and implement measures to reduce import dependence, stimulate localization of production and improve the security of logistics chains.
An important focus is technological sovereignty. The EAEU is developing cooperation in radio electronics, microelectronics, and critical industries. A decision has been made to create a Eurasian reinsurance company, and the Concept of the Eurasian Rating Agency is being developed. All these are elements of a new economic ecosystem independent of external pressure.
According to the results of 2024, the EAEU showed solid achievements. The total GDP grew by 4.4%, outpacing the global growth rate, estimated at 3.3%. At the same time, over 10 years, the EAEU GDP grew by 17.8%, reaching 2.6 trillion US dollars, industrial production increased by 29.1%, agriculture - by 25.5%. Mutual trade within the Union reached 97.7 billion US dollars, which is more than 2 times higher than the 2015 level. It is especially important that about 90% of mutual settlements are carried out in the national currencies of the participating countries. The volume of investment in fixed assets reached 487.3 billion US dollars, an increase of 40.1% compared to 2015.
A promising innovation in the vastness of the EAEU, launched in 2023, is a mechanism for financing cooperation projects. Its principle is simple: if enterprises from at least three countries of the Union participate in a project, it receives preferential financing through subsidized interest rates and direct support. To stimulate economic growth, the instruments of the Eurasian Development Bank and the Eurasian Fund for Stabilization and Development are additionally used: their combined portfolio exceeds USD 5 billion, and more than 80 projects are being implemented in the fields of energy, transport, industry, and infrastructure development.
The Union is actively forming an independent logistics architecture. As part of these efforts, a large-scale project, the Eurasian Agroexpress, is being implemented, the geography of which covers Iran, Turkmenistan, the UAE, and India.
Statistical data clearly show that participation in the EAEU significantly strengthens the economy of each member state. Thus, Armenia increased exports within the Union by 14 times, Kazakhstan - by almost 2.5 times. The EAEU market absorbs 40% of Belarus's foreign trade turnover. In Kyrgyzstan, the EAEU provides a significant share of GDP, and labor migrants have received full social protection in the Union countries. In Russia, non-resource exports to the Union countries have grown by 70% since 2015.
Eurasian integration is aimed at ensuring the interests of the population of the EAEU countries. This is evident, first of all, in the functioning of the single labor market. Citizens of the participating countries can freely work in any of the member states without patents or special permits. From the first day of employment, the personal income tax rate (PIT) established for residents of the host country applies to them. Workers and their family members are provided with medical care. Children have access to school education.
The Agreement on Pension Provision for Workers has been in force since 2021. It allows you to maintain and exercise your pension rights, regardless of the country in which a person works. Modern digital solutions are also being introduced, such as the mobile application "Work in the EAEU".
The EAEU plays a significant role in the system of global economic cooperation. The Union does not seek to create a closed circuit, actively developing external relations. By 2025, free trade agreements were signed with Vietnam, Iran, Serbia and Singapore, two non-preferential agreements were concluded with China. Negotiations with the UAE, Indonesia and Mongolia have reached the final stage, and a dialogue is underway with Egypt. More than 80 memorandums have also been signed with third countries and international organizations. The Union is building a connection with the Chinese initiative "One Belt, One Road", coordinates positions with the SCO and ASEAN, and participates in the formation of the Greater Eurasian Partnership.
In December 2023, the EAEU member states adopted the Declaration "Eurasian Economic Path", which sets the development strategy until 2045. Among the main goals set out in the document is the creation of a common economic space without barriers and exceptions with deep integration in the transport, energy, digital, financial and humanitarian spheres.
In 2026, the EAEU will begin to implement the Plan for the implementation of the provisions of the Declaration, which sets such key tasks as the creation of a common financial market, harmonization of tax and budget policies, integration of digital platforms, expansion of educational and scientific exchanges, etc.
Today, the EAEU is proof that Eurasian integration works. The Union benefits people, businesses and member states. It clearly shows that cooperation based on trust, equality and mutual benefit is the best answer to global challenges.
I congratulate all citizens of Armenia on the EAEU Day! I am confident that our Eurasian integration association is expecting a period of creation, growth and new achievements!
