The integration process in the Eurasian space is actively developing.   In the three years since it was founded (January 1, 2015) the Eurasian Economic Union (EAEU) has achieved convincing results to become one of the determining factors of economic development of its member states: Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan.

A thriving common market for goods is operating. Services, capital and labour markets are being formed on the basis of universal rules. A new EAEU Customs Code came into effect as of January 1.

In 2017 all the EAEU member states registered economic growth (total EAEU GDP was up 1.8 percent). Trade between the member states is growing (in the first three quarters of 2017 mutual trade within the Union grew by 26.9 percent and exports to foreign markets by 24.7 percent).

In 2018 Russia assumed the chairmanship of the EAEU bodies. Russia’s chairmanship of the Union will be based on the priorities set forth by the Russian President in his address to the EAEU heads of state on January 17. At the same time we are open to suggestions and wishes from all the Union partners and we are ready to take them into account.

Russia has an ambitious integration agenda. We see our task not only in “finetuning” the Union by developing supranational regulations and eliminating some exemptions from the common market. Russia suggests that its partners in the Union supplement the integration agenda with new relevant initiatives and projects. The formation of a common digital space of the Union will be a priority. Good opportunities are opening up for increasing the links among the five countries in the fields of nuclear energy, renewable energy sources, the environment, medicine, space exploration, tourism and sports. These were not originally part of the integration agenda, but in the modern world it is hard to imagine sustained economic development without cooperation in these areas.

From Russia’s point of view, establishing close cooperation with foreign partners is very important for the further development of the Union. A Free Trade Zone with Vietnam has been functioning successfully since 2016. We are looking towards a positive outcome of the ongoing talks to create FTZs with Singapore, Iran, India, Israel, Egypt and Serbia. The signing of a trade and economic cooperation agreement between the EAEU and the PRC promises to open up broad vistas.

Together with our partners in the Union we will explore the possibilities for closer coordination of the formats of the EAEU and the CIS some of whose member states could become observers at the EAEU. We are also committed to continued interaction with the UN and its specialised bodies, the strengthening of the positions of the member states and the Union as a whole within the WTO and working to involve the Union in the activities of other international organisations. In line with established practice, the Eurasian Economic Commission, which is the Union’s supranational regulatory body, will shortly present a plan for the implementation of the priorities of the Russian EAEU chairmanship in 2018 and will report on its fulfillment during the course of the year.