PM: Intra-EAEU trade can replace much of third-country imports

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YEREVAN, 19 November (BelTA) – The Eurasian Economic Union (EAEU) can replace a significant share of imports from third countries by tapping the potential of the intra-EAEU trade, Belarusian Prime Minister Roman Golovchenko said at the meeting of the Eurasian Intergovernmental Council in Yerevan on 19 November, BelTA has learned.

“Today we are holding the last session of the Eurasian Intergovernmental Council this year, and we can sum up certain results. The outgoing year was not easy. At the same time, our economies have been gradually recovering. I am sure that the GDP growth of 4.5%, and an increase in mutual trade by 32.7% in the EAEU in January-September 2021 were made possible thanks to our economic integration,” the Belarusian head of government said.

Roman Golovchenko noted that during the period the import from third countries went up by almost 24% (almost $27 billion). “I believe that mutual trade within the union could replace a significant share of these $27 billion in third-country imports. In this regard, I would suggest that the Eurasian Economic Commission prepare relevant information on imports from third countries with an analysis of its possible substitution by tapping trade potential in the EAEU. I am sure that we can find significant reserves here,” the prime minister said.