The COVID-19 pandemic was not an obstacle for the member states of the Eurasian Economic Union (EAEU) to increase trade by 17% in the first three months of the year, Russian President Vladimir Putin said on Friday
MOSCOW (Pakistan Point News / Sputnik - 21st May, 2021) The COVID-19 pandemic was not an obstacle for the member states of the Eurasian Economic Union (EAEU) to increase trade by 17% in the first three months of the year, Russian President Vladimir Putin said on Friday.
"Despite the problems caused by the pandemic the trade among EAEU member states increased by 17% from January-March this year," Putin told the Supreme Eurasian Economic Council.
The Russian president encouraged EAEU member-states to scale up the coordination of policies on economic development and social issues, including those caused by the pandemic.
"The integration mechanisms must work as effectively as possible, facilitating the increase in trade and mutual investments, as well as industry cooperation. It is the only way we can improve the macroeconomic figures and thereby increase the living standards of our citizens," Putin added.
These and other EAEU macroeconomic priorities for the 2021-2022, including the strengthening of the single market, are outlined in a paper that is expected to be approved by the Council later on Friday, according to the Russian leader.
The Eurasian Economic Union was established in 2015 and includes Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia. The Supreme Eurasian Economic Council is the organization's highest authority that comprises the heads of member states.
