The Eurasian Economic Union has the potential to become the core of a competitive and successful integration of integrations, Belarusian President Aleksandr Lukashenko said during the meeting of the Supreme Eurasian Economic Council in Minsk on 27 June, BelTA has learned.

“The EAEU can become the core of a competitive and successful space of the ‘integration of integrations’ that aligns Eurasia’s economic potential with the vast opportunities of the Shanghai Cooperation Organization, BRICS, ASEAN, and other alliances of the Global South and East,” the Belarusian leader said.

He noted that during Belarus’ presidency in the EAEU, the country, as always, will take all necessary measures to strengthen the union’s economic potential and enhance its international standing.

“We assume that mechanisms to deepen cooperation between the union and observer states will continue to develop steadily and will allow Eurasian projects to scale into a broader integration framework,” the president stressed. “We see the institution of free trade as a solid foundation for effective economic cooperation with friendly countries. We are pleased that the full-fledged EAEU free trade agreement with Iran has come into force this year, and we are committed to its active implementation.”

Aleksandr Lukashenko welcomed the signing of trade agreements with Mongolia and the United Arab Emirates during the summit. “Given our bilateral and personal relations, I am happy that the signing will take place here, in Minsk,” the president added.

The GDP of the countries and regional integration blocs with which the EAEU has established and formalized relations amounts to $72 trillion. This represents half of the global economy and half of the world’s population (over 4 billion people).

“Just imagine the potential and the results if we realize it wisely,” the president said. “The international positioning of the EAEU must remain a top priority in our efforts. This is what we agreed upon during our narrow-format discussion.”

belta.by