Presidents of the Eurasian Economic Union (EAEU) countries met in St. Petersburg

The presidents of the Eurasian Economic Union (EAEU) countries met in St. Petersburg. for the last summit of this year.

The informal meeting of EEU Heads of State was attended by Vladimir Putin, President of Russia, Kassym-Jomart Tokayev, President of Kazakhstan, Ilham Aliyev, President of Azerbaijan, Nikol Pashinyan, Prime Minister of Armenia, Alexander Lukashenko, President of Belarus, Sadir Djaparov, President of Kyrgyzstan, Emomali Rahmon, President of Tajikistan, Serdar Berdimuhamedov, President of Turkmenistan and Shavkat Mirziyoyev, president of Uzbekistan attended.

During the event, AEB leaders discussed priority areas of the Organization’s activities, plans to strengthen and further develop mutually beneficial cooperation. The leaders also exchanged views on current issues of interaction within the EEU.

All members of the Supreme Eurasian Economic Council agreed to ratify the declaration of cooperation for 2030 and 2045. Nikol Pashinyan, Prime Minister of Armenia who has had tense relations with Russia for a long time, also attended the summit.

PUTIN CALLS ON EEU MEMBERS TO “JOINTLY PREPARE FOR CHALLENGES”

Vladimir Putin, President of Russia said that industrial production in the

EEU increased by 3.5 percent, while the construction sector increased by 9.3 percent. Speaking about the prospects, Kasım-Jomart Tokayev called for “jointly preparing for the challenges of 2024” in connection with forecasts that the global economy will grow at a modest pace from 1.5% to 3%.

In addition to the agreement with Iran, another important and long-prepared document that was signed was the “Eurasian Economic Path” Declaration on the further development of the EEU for the period until 2030 and until 2045.

Tokayev said that this program is linked to China’s famous “One Belt, One Road” initiative.

Vladimir Putin noted that the declaration reflects the vision of the five countries of the union on how Eurasian integration should further develop. EURASIAN ECONOMIC COMMISSION DECLARATION

The declaration of the Eurasian Economic Commission (EEC), adopted at the summit, includes six different aspects. These are respectively; provision of a common market for essential goods and resources (and its effective functioning), creation of a common space for cooperative interaction in the field of technological development, creation of a common transport and logistics area and a common financial market, development of economic cooperation in areas with “integration potential” and EEU The functioning of ‘as the pole of economic gravity in the international arena’.

The Board will need to develop a draft “road map” for the implementation of the adopted declaration and submit it for approval in 2025.