The trade volume between the member countries of the Eurasian Economic Union (EAEU) reached a record high in 2024, exceeding 98 billion dollars. This increase is considered an important step towards achieving the economic integration goals of the union. The EAEU is an economic union consisting of Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan and aims to liberalize the movement of goods, services, capital and labor between member states. In 2024, the volume of trade recorded was the highest since 2015, when the union was established. Russia, as the union’s largest economy, is the leader in trade with other EAEU countries. However, Kazakhstan and Belarus are also important actors in trade within the union. Energy, agricultural products, machinery and equipment are the main items of the union’s trade. EAEU officials noted that the increase in trade volumes is a result of steps such as the removal of customs barriers between member states and the expansion of the common market. It was also stated that cooperation in the field of digital trade and logistics also contributed to the growth of trade. The Union’s future goals include further deepening economic cooperation among member states and increasing competitiveness in global markets. In the coming years, the EAEU aims to further increase the volume of trade and contribute to the economic development of member countries. This development demonstrates the success of economic integration in the Eurasian region, as well as the increasingly important role of the EAEU on the global economic stage.
Trade Between Eurasian Economic Union (EAEU) Countries Exceeds $98 Billion in 2024
64