The EAEU role in the global economy
🇦🇲🤝🇧🇾🤝🇰🇿🤝🇰🇬🤝🇷🇺
✅ Since the establishment of the Eurasian Economic Union in 2015, the share of total GDP (PPP) of the Union’s countries has remained in the range of 5,5-5,7% of the global GDP. At the end of 2021, its share of the world GDP stood at 2.1%, in absolute terms just over USD 2 trillion.
✅ Between 2014 and 2021, mutual trade among EAEU member states increased in value terms by 28.5% to $73.1 billion. The growth was driven by rising global commodity prices and a change in trade structure in favour of more value-added goods.
☝️ The EAEU economies have shown their resilience to global crises. The COVID-19 pandemic is a striking example, with the decline in GDP growth rate in 2020-2021 being less significant than for the rest of the world.
✅ Given the growing sanctions pressure on Russia and Belarus, it is worth noting that so far the actual growth rates of the EAEU economies are higher than predicted.
#EAEU #EurasianEconomicUnion #Integration
🇦🇲🤝🇧🇾🤝🇰🇿🤝🇰🇬🤝🇷🇺
✅ Since the establishment of the Eurasian Economic Union in 2015, the share of total GDP (PPP) of the Union’s countries has remained in the range of 5,5-5,7% of the global GDP. At the end of 2021, its share of the world GDP stood at 2.1%, in absolute terms just over USD 2 trillion.
✅ Between 2014 and 2021, mutual trade among EAEU member states increased in value terms by 28.5% to $73.1 billion. The growth was driven by rising global commodity prices and a change in trade structure in favour of more value-added goods.
☝️ The EAEU economies have shown their resilience to global crises. The COVID-19 pandemic is a striking example, with the decline in GDP growth rate in 2020-2021 being less significant than for the rest of the world.
✅ Given the growing sanctions pressure on Russia and Belarus, it is worth noting that so far the actual growth rates of the EAEU economies are higher than predicted.
#EAEU #EurasianEconomicUnion #Integration
The Eurasian Economic Commission considers cooperation with African countries, regional and subregional associations of the continent as an important and priority area of the Union's international activities.
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🤝 The Eurasian Economic Union (EAEU) – African Union cooperation is governed by the provisions of the Memorandum of Understanding between the Eurasian Economic Commission and the African Union on economic cooperation which was signed on the margins of Russia – Africa Summit in Sochi in October 2019.
🔹Russia-Africa Forum as well as business dialogue between Russia and African countries, in both of which Eurasian Economic Commission is actively participating, have a positive effect on the trade and economic cooperation between African countries and the Eurasian Union.
🔸Trade turnover between the EAEU and countries located on the African continent has more than doubled over the past 10 years and amounted $18.9 billion in 2021.
#EAEU #AfricanUnion #Integration
Read in full
🤝 The Eurasian Economic Union (EAEU) – African Union cooperation is governed by the provisions of the Memorandum of Understanding between the Eurasian Economic Commission and the African Union on economic cooperation which was signed on the margins of Russia – Africa Summit in Sochi in October 2019.
🔹Russia-Africa Forum as well as business dialogue between Russia and African countries, in both of which Eurasian Economic Commission is actively participating, have a positive effect on the trade and economic cooperation between African countries and the Eurasian Union.
🔸Trade turnover between the EAEU and countries located on the African continent has more than doubled over the past 10 years and amounted $18.9 billion in 2021.
#EAEU #AfricanUnion #Integration