During the past three years, the Eurasian Economic Union (EAEU) countries have successfully transformed their foreign trade landscape, shifting the focus of co-operation from the European Union to the BRICS countries — as noted by Andrei Slepnev, a member of the EEC Board (Minister) in charge of Trade, at the 2025 year-end press conference
Mr. Slepnev pointed out that the shift of EAEU countries towards new markets, different from those they previously focused on, was partly accomplished through establishing free trade zones.
He explained, “While the EU used to account for over 30 percent of our trade turnover, that figure has now dropped to 18 percent. On the other hand, the BRICS+ countries, which previously made up about 30 percent, are expected to reach nearly 70 percent by 2025. This indicates a significant change in the trade environment. Nevertheless, the need to diversify trade remains important, and free trade agreements will help facilitate this.”
At present, the Eurasian Economic Commission has signed free trade agreements with Vietnam, Iran, and Singapore. In 2025, similar agreements were announced with Mongolia and the United Arab Emirates, which are now in the process of ratification.
