EEC Minister for Trade Andrey Slepnev said new EAEU trade agreements could create more than 300,000 additional jobs in the Union’s economy. He spoke at the “Homeland Is People. Building Greater Eurasia” event at the Russia National Centre in Moscow. Source: Eurasian Economic Commission (EEC).
He noted a sharp shift in the “five’s” external trade: the West’s share fell from about 60% in 2019 to below 20%, while the Global South’s rose from 40% to 80%, with overall trade volumes largely unchanged. The Union, he said, had expanded existing markets and built new ties.
Citing the EAEU’s first free-trade agreement — with Vietnam — he pointed to manifold growth in exports of meat, mineral fertilisers, chemicals and metallurgy, and to the jobs that followed that expansion.
Agreements with Mongolia, the UAE and Indonesia that are entering into force are expected to add roughly USD 12 billion in goods shipments and about 160,000 jobs in the EAEU economy. The India track is estimated at about USD 10 billion in additional supply and some 180,000 high-productivity jobs.
He also highlighted the Mongolia deal’s regional impact for Russia’s Irkutsk Region, Buryatia and Tyva, and announced a second regions forum and the first meeting of the joint committee with Mongolia for September.
EEC Council member and Russian Deputy Prime Minister Alexey Overchuk also took part in the event.
