5 months ago
18
NEW DELHI: At a summit in Moscow, Russian President Vladimir Putin celebrated the tenth anniversary of the Eurasian Economic Union (EAEU), emphasizing its significant role in shaping a multipolar global structure. The summit, marking a decade since the signing of the
EAEU
’s foundational treaty, highlighted the achievements of the union comprising Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia, along with observer states Cuba, Moldova, and Uzbekistan.
In his address, Putin praised the union's growth and success over the past ten years, describing the EAEU as "an independent and self-sufficient center of the emerging
multipolar world
." He underscored the principles of equality, mutual benefit, and respect for mutual interests that guide the EAEU, suggesting that these values have been pivotal in its development, a Russia Today report said.
Putin provided a robust overview of the
economic achievements
within the union, noting, "The economic indicators speak for themselves: according to available estimates, over the ten years the joint GDP of the EAEU countries went from $1.6 to $2.5 trillion. Trade with third countries grew by 60% from $579 to $923 billion, while the volume of mutual trade almost doubled: from $45 to $89 billion, with over 90% of transactions already made in national currencies." These figures illustrate a substantial economic growth and an increase in
regional cooperation
under the EAEU's framework.
Furthermore, Putin highlighted the broader benefits of the EAEU to the Eurasian region, stating that the union "helps ensure stable and sustainable development both of the five member countries and the
Eurasian region
as a whole, and results in improving the quality of life and wellbeing of our people." This statement reflects the EAEU's role not only as an economic bloc but also as a stabilizing factor in
regional development
.
The EAEU, which is the successor to the Eurasian Economic Community, has evolved to become a significant entity in regional politics and economics, affecting not only its member states but also its role and perception in the global arena.
