Posted: 26.12.2023 10:09:00

Aleinik: EAEU becoming increasingly attractive for many regions of Global South and Global East

The Eurasian Economic Union is becoming increasingly attractive to many regions of the Global South and Global East, Belarus’ Foreign Minister Sergei Aleinik told reporters following the EAEU summit in St. Petersburg

When asked about how Belarus will benefit from the documents signed following the EAEU summit, the Foreign Minister noted that the main advantage lies in the very existence of the Eurasian Economic Union, “The summit summed up the interim results of the EAEU’s activities over ten years. They are impressive and include a twofold increase in trade turnover. Our trade turnover with the outside world has increased by 60 percent. A significant increase was recorded in the production of industrial and agricultural goods. The EAEU has become absolutely self-sufficient in terms of basic types of agricultural products. For most types, we are self-sufficient by 90–100 percent, having significant potential for exports. Therefore, in every sense, the EAEU is demonstrating positive trends in the sustainability of economic growth, ensuring the technological sovereignty of both the EAEU as a whole and its member states.”

According to Sergei Aleinik, Belarus’ President Aleksandr Lukashenko also stressed the economic component of integration, “Indeed, the economic development of our union, ensuring the four freedoms that are enshrined in our Treaty on the EAEU, is the basis on which we stand and develop our integration. The EAEU is becoming today increasingly attractive to many regions of the Global South and Global East. The signing of a Free Trade Agreement with Iran is a clear confirmation of this. Goods from Belarus and all member countries of the Eurasian Union will be more competitive in the huge Iranian market. Negotiations are currently underway on similar agreements with the UAE and Egypt, and such an agreement with India and a number of other countries is on the agenda.”