YEREVAN, MAY 14, ARMENPRESS. The Eurasian Economic Union successfully develops partnership with other countries and unions, Russian President Vladimir Putin announced during the Supreme Eurasian Economic Council session.

“FTA with Vietnam operates successfully. A trade and economic agreement with China is planned to be signed this week in Astana, as well as a temporary agreement with Iran on creating free trade zone. Talks with Israel, Serbia and Singapore on privileged agreements are underway. In the future similar negotiations are scheduled with Egypt and India”, ARMENPRESS reports the Russian President as saying.

According to him, the priority issues of the integration structure are increasing the efficiency of the single markets, the harmonization of national legislations in different spheres, the elimination of restrictions on the free movement of goods, services, capital, labor, creating more favorable conditions for the development of entrepreneurial activity.

“In general, the Eurasian Economic Union develops rather dynamically. GDP in member states rose by 1.8%, industrial products by 1.7%, agricultural products by 2.5% in 2017, while the average price rise has declined by 3.1% in the member states. Internal and external trade has also improved. Exports to the 3rd countries have increased by 24.5%, and trade turnover has increased by 26.1%”, the Russian president said.

The Supreme Eurasian Economic Council session took place on May 14 with the participation of the Heads of State of all the member states. Moldova participated in the expanded format session as an EAEU observer state. Armenian PM held meetings with the Presidents of Russia, Belarus and Kyrgyzstan in the sidelines of the summit.

English translator/editor – Tigran Sirekanyan