Arzybek Kozhoshev summarized the results of the EAEU's ten-year participation in the global economy

Arzybek Kozhoshev, Minister of Energy and Infrastructure of the Eurasian Economic Commission, addressed the participants of the International Discussion dedicated to the 10th anniversary of the Eurasian Economic Union. The event summarized the results of the ten-year functioning of the association, as well as discussed the key challenges and prospects for development.

In his speech, the Minister noted that despite a number of external factors and their negative consequences, the Union was able to successfully cope with the challenges. This is evidenced by macroeconomic indicators: over the past ten years, the EAEU GDP has grown by 50% - from $1.6 trillion to $2.4 trillion, and the volume of mutual trade has doubled, reaching $90 billion. At the same time, its share in the total volume of foreign trade of the Union has increased to 18.2%.

Kozhoshev also emphasized the improvement of conditions for EAEU citizens in the spheres of education, medicine and pensions. In addition, he noted the advantages for business, including free movement of goods and equal access to public procurement.

The Minister paid special attention to the formation of common markets for oil, gas and electricity, which will ensure the availability of energy resources and development of the countries of the Union. He also pointed to the active promotion of projects to diversify supplies and develop new transportation routes, including the North-South transport corridor and cooperation with China within the framework of the “One Belt, One Road” initiative.