EAEU considers cooperation with third countries

The St. Petersburg International Economic Forum discussed the prospects for a full-fledged free trade area between the Eurasian Economic Union and Iran and India. In 2020, trade between the EAEU and Iran grew by 18.5 percent and reached nearly US$3 billion. The Union’s member states’ exports to Iran increased by 43.5 percent in the first quarter of the year. Experts also touched upon the most promising infrastructure projects, including the development of the International North-South Transport Corridor.

“We play an important bridging role, we are at the crossroads of various trade routes. This is both North-South and West-East. That is, it is very important for us that our macroregion is diversified and linked with many directions. This includes the direction of the great connection between the European Union and China, as well as part of the Belt and Road Initiative and within the EAEU. All this enables our economy to grow not only in the basic materials sector, but also in increasing non-resource exports, which is our main strategy,” said Kairat Kelimbetov, Governor of the Astana International Financial Center.

Translation by Assem Zhanmukhanova

Editing by Galiya Khassenkhanova