Over five years, the combined GDP growth of EAEU countries amounted to 16.6 percent. Daniyar Imanaliev, Minister in charge of Integration and Macroeconomics of the Eurasian Economic Commission (EEC), told journalists.
According to him, industrial production increased by 18.9 percent, while agricultural output grew by 12.4 percent.
Imanaliev explained that the EEC uses a specially developed methodology to calculate the impact of integration efforts.
The total contribution of integration to the union’s GDP amounted to approximately $43 billion, which, in turn, contributed additional 1.7 percent to total GDP.
«Mutual trade has grown by 25 percent ($15 billion). The integration effect of mutual labor migration has also increased—it has grown by 56 percent, amounting to approximately $25 billion,» Imanaliev said.
He added that the Eurasian Economic Commission is working with Iran and Vietnam on trade agreements. In 2015, an agreement was signed with Serbia, agreements have been concluded with Mongolia, Indonesia, and the United Arab Emirates, and negotiations are underway with Egypt and Tunisia.
