Ashraf AboArafe reports
May 29 marks the annual celebration of Eurasian Economic Union (EAEU) Day, recognizing the achievements and deepening integration of the regional bloc, which includes five member states: Russia, Kazakhstan, Belarus, Armenia, and Kyrgyzstan.
The Union represents a population of 185.5 million people, with a GDP of $2.6 trillion, industrial output of $1.6 trillion, agricultural output of $132 billion, and mutual investments totaling $487 billion.
The EAEU has become an attractive model for international cooperation, signing:
- Free trade agreements with Vietnam, Serbia, and Iran,
- A non-preferential agreement with China,
- And over 80 cooperation memoranda with countries and integration bodies such as the CIS, Shanghai Cooperation Organization, ASEAN, and the United Nations.
The Union currently includes four observer states: Iran, Uzbekistan, Cuba, and Moldova.
Notably, the EAEU is engaged in ongoing negotiations with Egypt to establish a free trade agreement, with the sixth round held in Moscow from August 15–17, 2023. Egypt is considered a key economic and trade partner, and the potential agreement would lay the groundwork for expanded cooperation, especially in investment and access to African markets, with Egypt serving as a “gateway to Africa” for EAEU companies.
