About 60% of Belarus' exports go to the Eurasian Economic Union (EAEU) countries, Deputy Economy Minister of Belarus Alesya Abramenko said during a roundtable discussion titled “The future of the EAEU: Belarus at the forefront of integration processes. The presidency of the Republic of Belarus in the EAEU bodies” that was held at the BelTA press center.
“The benefits of being member of the union are quite tangible. Belarus has signed and implemented a number of agreements within the framework of the union. Belarus has an open economy, so the EAEU market is very important for us. From 2015 to 2024, Belarus' exports to the EAEU countries nearly doubled. The trade between the EAEU members soared from $45 billion to $98 billion,” Alesya Abramenko said.
Over 10 years of integration, the combined GDP of the participating countries has grown by more than 12% in comparable prices - today the aggregate GDP is estimated at over $2.6 trillion. Industrial output in the EAEU has increased by more than 20%. Almost 90% of settlements between the member states are made in national currencies, which reduces currency-associated risks and contributes to stability.
In December 2020, the heads of state - members of the Eurasian Economic Union approved strategic guidelines for Eurasian economic integration until 2025. “We are already taking stock of the results of implementing these guidelines this year. About 75% of the activities have been completed,” the deputy minister noted.
