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EAEU Will Meet in Moscow To Foster Economic Integration

The summit of the Supreme Eurasian Economic Council, which will be held in Moscow May 8, will discuss the work of the Eurasian Economic Union (EAEU) over the last ten years, since it was established in Astana, Kazakhstan in May 2014, and the prospects to deepen integration, reported Yuri Ushakov, Assistant for International Affairs to Russian President Vladimir Putin, as reported May 7 by Oreanda News.

Ushakov asserted: “During these 10 years, quite significant results have been achieved…. The volume of mutual trade between the member states has almost doubled to $80.5 billion, trade turnover with third countries has increased by 60%, the external debt of the Union has decreased by 15%, [and] the portfolio of accumulated mutual direct investment has reached $17.7 billion.”

Members of the EAEU include Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia. Uzbekistan and Cuba are observer members. The heads of state of the member and observer nations will be in attendance, including Vladimir Putin.

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