The GDP of the Eurasian Economic Union (EAEU) should at least double over the next 10 years, Belarusian President Aleksandr Lukashenko said at the plenary session of the Eurasian Economic Forum “Strategy of Eurasian Economic Integration: Results and Prospects” in Minsk on 26 June, BelTA has learned.

The head of state noted that the EAEU is expanding both in terms of geography and scope. Nowadays, together with its partners, the EAEU represents a fifth of the world’s population and is the largest union by territory.

“This vast territory contains a quarter of all known mineral resources. Our union ranks first in the world in oil production, second in gas extraction and mineral fertilizer production, third in wheat, potato, and livestock output and also in railway length, and fourth in coal mining, cast iron and steel production, meat output, and total length of roadways,” Aleksandr Lukashenko remarked.

However, there is still room for improvement, the president believes. Despite all this, the GDP of the EAEU accounts for only about 4% of the global total.

“What does this tell us? The potential of our integration alliance is not being fully harnessed. Over the next 10 years, we must at least double this figure by giving a new impetus to integration,” the Belarusian leader emphasized.

He stressed that some of the EAEU’s key performance goals have not been achieved. Addressing these challenges largely depends on the Eurasian Economic Commission and the heads of state.

“Each of my colleagues here has the vision for their countries in the medium and long term. We must identify and consistently implement joint measures so that integration brings added value. It should be clear to people that, on our own, without the union, we would not have been able to achieve this so quickly or effectively,” the president stated.

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