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Mutual trade of EEU countries grows by almost 40 percent in January 2017

In January 2017, the mutual trade between the countries of the Eurasian Economic Union increased by almost 40 percent for the first time in two years. Member of the board (minister) for integration and macroeconomics of the Eurasian Economic Commission Tatyana Valovaya said today at an online conference.

According to her, EEC predicts 0.9 percent growth in the union’s GDP for 2017. The same positive dynamics is expected in 2018–2019.

According to the results of January 2017, the volume of mutual trade between the countries of EEU rose by 38.1 percent. The figure is even greater in Armenia — 81 percent.

«This is a very big growth. We hope that we overcame the decline. This indicates a revival in the economy. The economy is growing along with the mutual trade," Tatyana Valovaya said.

She noted that Armenia and Kyrgyzstan, which joined the union in 2015, began to benefit from Eurasian integration. For example, in 2016, Kyrgyzstan became the leader among EEU countries in terms of GDP growth. An increase in the republic’s GDP at a level above the average for the union is forecasted for 2017–2019.